Homes in state government developments under RM120,000 are now available for B40 residents of Sarawak to buy, reported Chief Minister Datuk Patinggi Abang Johari Tun Openg to the Borneo Post. 

The state government will also set up financing facility Mutiara Mortgage & Credit so that the B40s to “take up housing loans with interest of only 1 per cent”.

“As long as they are in the B40 group, they are eligible to purchase these houses for RM120,000 or below. They can apply for housing loans from Mutiara Mortgage & Credit with an interest of only 1 per cent, the lowest out there.

“The state government is taking this approach to help the B40 group to be able to own houses legitimately,” said Abang Johari.

The Sawarak CM said that this was part of the state’s “long term plan for structured development in urban areas”, and “to ensure that the lower income B40 group these areas would not be displaced”.