KPMM-MAPEX 2017 to empower greater Bumiputra homeownership
Shah Alam, August 11 – The inaugural Affordable Housing Carnival (KPMM)-Malaysia Property Expo (MAPEX) 2017 is confident of targeting some 50,000 visitors and RM500 million in property sales from the three-day exposition which is being held at Shah Alam Convention Centre (SACC) from 11-13 August 2017. KPMM-MAPEX is a maiden initiative by the Malaysian government and the Real Estate and Housing Developers’ Association Malaysia (REHDA) in line with the federal government’s objective to promote home ownership as well as to facilitate more opportunities for homebuyers to have easy access to affordable homes in the open market. It also marks the first time that REHDA is collaborating with the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) to organize the KPMM- MAPEX 2017. This Bumiputra-themed property carnival expo also focuses fundamentally on affordable houses priced RM500,000 and below.
In addition to affordable housing within Klang Valley, KPMM-MAPEX 2017 also promotes similar units located in other states such as Melaka, Kedah, Perak, Pahang, Penang and Kelantan. An array of properties offered with attractive promotions such as Bumiputera discounts and purchase rebates by participating developers await visitors at KPMM-MAPEX 2017. Among the 40 developers and 14 government agencies showcased at KPMM-MAPEX 2017 are Glomac Berhad, IJM Land Berhad, Perbadanan Kemajuan Negeri Selangor (PKNS), Kota Kelang Development Sdn Bhd, Setia Ecohill Sdn Hill, UEM Sunrise Berhad, Mitraland Group, Matrix Concepts Holdings Berhad as well as government agencies under the National Housing Department such as Lembaga Perumahan dan Hartanah Selangor (LPHS) providing Rumah Selangorku, and also the Federal Territories Ministry (KWP) promoting RUMAWIP (Rumah Malaysia Wilayah Persekutuan).
The Ministry of Urban Wellbeing, Housing and Local Government (KPKT) have plans to introduce homes under the People’s Housing Project (PPR) to cater to the needs of middle income groups under M40. According to its Minister, Tan Sri Noh bin Haji Omar, PPR had only been targeted for the lower-income group (B40). The PPR project ought to be extended to M40 to include those in the middle-income group for them to own affordable homes of their own. Over RM100,000 has been subsidized for each PPR home for the B40 group whereby home owners only need to fork out a minimal payment of RM35,000. The Government’s ambitious plan and grand target to deliver one million units of affordable homes (i.e. “rumah mampu milik”) by 2018 is projected to begin construction next year. Bank Negara Malaysia is also urged not to impose overly strict terms and conditions (T&C) to first-time buyers as these should only apply to home loan applicants in possession of more than one property. The event itself also serves as a one-stop centre for the general public who wish to hunt for their first home priced below RM500,000.
“I would say this is a perfect platform for those who are looking to buy a house because it is a one-stop centre. We have reputable developers here who have good track records, government institutions and financial institutions who can advise those who are ready to purchase a property. This event is targeted at the B40 (income of RM3,860 and below) and M40 income groups (income between RM3,860 and RM8,319). There are projects worth more than RM1 billion in gross development value displayed at this three-day event. There is a wide variety of property options from the open market with attractive promotions such as bumiputera discounts and purchase rebates by participating developers.” – Datuk FD Iskandar, President of REHDA (Real Estate & Housing Developers’ Association).
“The working paper for this suggestion (PPR for M40) has been prepared and will be brought to the government, the soonest possible after officiating the here yesterday. As of April this year, 241,255 units (21.7%) of these homes have been delivered while 706,881 units (63.6%) are under construction. I believe if we work really hard, we would be able to fulfill our promise. As for the M40 group, the government may not give the same subsidy as the B40’s PPR. The government might consider giving discounts between 10 and 20 per cent for properties with the market value of RM700,000. This is what we’re planning.” – Tan Sri Noh bin Haji Omar, Minister of Urban Wellbeing, Housing and Local Government Malaysia.
“REHDA is pleased to be working with the Ministry in organizing the KPMM-MAPEX as part of our efforts to encourage home ownership. The previous MAPEXes organized by REHDA were mostly showcasing houses by private developers only, but through this strategic partnership, there are more state governments taking part to offer more affordable homes, especially those under government’s control. REHDA is confident that with strong support from the Government and its agencies, private developers as well as the public, KPMM-MAPEX will be able to achieve its objective in providing the right platform for buyers searching for their dream homes. Over 5,000 properties of various types with a total value of RM5 billion are being offered at KPMM-MAPEX. To facilitate buyers with housing loan information’s, the carnival is also participated by financial institutions namely Maybank and Bank Simpanan Nasional. I hope more financial institutions will be participating in expos like this to enable buyers make comparison on housing loan products that best suit their financing capability. I strongly urge those who are looking to buy homes, especially first-time home buyers, to come and take a look because most of the projects here are priced below RM500,000.” – Datuk Ng Seing Liong, MAPEX 2017 Organizing Chairman
A total of RM50,000 cash rebate were offered to first-time homeowners during the carnival exposition. Various exciting activities and prizes were lined up for visitors during the entire event. Among the many fun-filled family activities include colouring contest for kids, giant board games, henna body art, sand art, food trucks, clown appearances & balloon sculptures, cakes & cookies decoration as well as ice cream, popcorn & cotton candy freebies or giveaways. Visitors were also treated to property talks by industry experts such as Pn Ieza Yusof, Dr Azizul Azli Ahmad, En Ahyat Ishak and En Aziz Ahmad on the 2nd and 3rd day. For more details or further information, please visit www.mapex.com.my/kpmm-mapex2017 or contact Rehda: +603-7880 8000 or email: firstname.lastname@example.org. Follow KPMM-MAPEX on the following social media portals for the latest news as well as event updates: Facebook: KPMM-MAPEX ; Instagram: KPMM_MAPEX
Highlights of participating exhibitors at KPMM-MAPEX 2017