Penang holds firm on 30pc affordable housing quota

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The state government will stand firm on the 30 per cent low cost (LC) and low medium cost (LMC) housing quota requirement.

Chief Minister Chow Kon Yeow said this was because there were 30,726 Penangites on the waiting list to buy LC and LMC homes.

He said the state government was also looking at other options, including a rent-to-own scheme to ensure that low-income families could own their homes.

Chow said the quota applied to housing projects on the island with more than 150 units and on the mainland with more than 100 units.

“We will continue to impose this every time developers submit applications for housing projects,” he said today at the launch of a balloting ceremony for LC flats by Sunway Property — 10-storey Desa Kayu Manis apartment in Batu Maung and 17-storey Rumah Pangsa Harmoni apartment homes.

“They can provide financial contributions instead, if they cannot build LMC homes,” said Chow.

“They have to pay RM120,000 for each unit they do not build.”

Source: TheNST

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