Johor Baru: The Johor Ruler will unveil a special surprise for Johoreans over an affordable housing scheme to mark his 59th birthday celebration, which falls on Thursday.
Sultan Ibrahim Ibni Almarhum Sultan Iskandar said the gift for his subjects would be in Bandar Dato Onn here.
He said the freehold project, under the Sultan Ibrahim Foundation and in collaboration with Bank Rakyat, would see different concepts for residential and commercial units.
“I want Bangsa Johor to be a home-owning society,” he said.
“Imagine owning a three-bedroom bungalow or a semi-detached house priced at below RM100,000 per unit,” he said in a statement yesterday.
Successful applicants would only need to pay a deposit of RM1 for a full loan with an easy repayment scheme, he added.
Sultan Ibrahim, however, noted that while the offer would be opened to all eligible Bangsa Johor, the selection process would be stringent.
“I do not want to reveal too much now but the people are welcome to Galleria@Kotaraya on Wednesday for the soft launch of this exciting project,” he said.
Sultan Ibrahim also expects the initiative to shake up the housing industry here and drive private developers to reduce property prices.
“We must make housing more affordable,” the Sultan said.
“The price now is way beyond the reach of the average wage earner.”
News Source:(Star Property)