Kediaman SPNB in Sentul, Kuala Lumpur – a condominium project with 916 housing units of 806 sq ft and priced at RM300,000 and lower – is one of three projects Syarikat Perumahan Negara Bhd (SPNB) plans to launch this year.
SPNB CEO Datuk Hasleen Isnin who took over the lead in September 2020, told the Malaysian Reserve (TMR), “This project goes well with SPNB’s goal to serve the B40 group, we are not deviating anymore from serving our focus group throughout Malaysia. We try to get 100% financing for our buyers, which means they do not have to put up a deposit, so that they only pay progressively after a certain period of time. That way, they can manage their finances without being burdened and they have a lot of time to adjust their cashflow to make sure they can own the house.”
The other two projects are located in Putatan, Sabah, and Kuala Nerus, Terengganu. The company's first project for the frontliners will be in Sabah, while the Terengganu project will be done in conjunction with the state government.
Datuk Hasleen stated that the company will revert to its fundamental mission of providing affordable homes and favourable living conditions for the country's bottom 40% (B40).
“We are really focusing back to serve the B40 group or, due to the COVID-19 pandemic, the B50 group, through our Rumah Mesra Rakyat (RMR) and our Kediaman SPNB to make sure that not only we build homes, but also assist in getting buyers to own a house through financial packages,” Datuk Hasleen added.
SPNB has recently joined forces with a number of banks to assist consumers in granting finance.
Datuk Hasleen said, “We are here to assist buyers to own assets that have increased in value by giving them options to change their cash flow or priority. We know the difficulty of the B40 group is to cross over 10%, meaning if the house is RM300,000, they have to pay RM30,000. For homebuyers who are still young, most of them do not have that kind of savings. So, what we do is provide options where they don’t have to pay the 10%, but instead, they can just pay instalments.”
SPNB will also focus on supplying homes on the edges of cities and significant towns, which Datuk Hasleen claims will become the norm in the future. People prefer to live on the outskirts mostly because the quality of life is better. Furthermore, the government is investing in numerous infrastructure to make public transportation accessible to the outskirts and rural areas.