1MDB plans to start off Bandar M’sia project with units priced from RM220,000-RM300,000
PETALING JAYA: 1Malaysia Development Bhd (1MDB) will kick- start the development of the Bandar Malaysia project in Sungei Besi with the launch of affordable housing units within the next one to two years, said senior vice-president, of planning, development and real estate, Juraimi Azahar Taharin.
Juraimi said the 1MDB affordable housing concept, complete with a prototype unit, would be unveiled soon to seek input from the public as part of its information gathering exercise to find out the facilities that were needed to best serve the target buyers.
“One of the purposes of this feedback exercise is to align the developer's plan with what the market requires. What we have in mind is to build housing units of between 800 sq ft and 1,000 sq ft at an estimated price of RM220,000 to RM300,000. Both are subject to the findings of the survey,” Juraimi told StarBiz.
He said 1MDB's affordable housing programme was aimed at providing modern and quality affordable living in the city for young families.
“One of the key focus will be on sustainable development and facilities for child care and transit centres for the young and older children,” he said. He added that 1MDB was working with PRIMA for its affordable housing schemes, and was looking to build 10,000 affordable housing units in the Klang Valley over the next 10 to 15 years.
The locations for the housing projects are currently being finalised, but one of the main criteria is that they have to be in areas that have easy accessibility and connectivity. The scheme is open to all Malaysians with household monthly income of less than RM6,000 and they are buying their first house for their own occupancy.
1MDB is a government-owned master developer for the redevelopment of the 495-acre Bandar Malaysia in Sungei Besi, which used to be the base for the Royal Malaysian Air Force (RMAF).
The developer signed a sale and purchase agreement in June with the Federal Land Commissioner for the transfer of the 495 acres of Sungai Besi airport land to 1MDB.
The mixed development project with livability and sustainability as its distinctive characters, aims to be a new and vibrant landmark that reflects the aspirations of a Greater Kuala Lumpur.
1MDB is working with the Malaysian Institute of Planners in organising an international master planning design competition for Bandar Malaysia that is open to local and international urban planners.
The key principles to be included in the plans are planning and design; ecological footprint; infrastructure; diverse housing solutions; transportation; open space, parks and green density; innovation in land structure; urban solutions; technology; history and culture.
The result, expected to be announced in July next year, will be the basis for Bandar Malaysia's urban planning. Juraimi said the priority was to ensure the relocation process of the RMAF base went on smoothly. The relocation process will be done over several years in several phases.
1MDB has to ensure that RMAF has an appropriate place to move their assets and operations, as well as they are comfortably functional at the new location.
“Discussions with regards to the relocation is on-going with the help of Malaysian Armed Force Fund Board and areas such as Subang, Sendayan, Butterworth as well as Kuantan have been identified for the purpose,” he added.
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