UDA meets the needs of the market
Despite competition with many leading developers, UDA has its strengths in providing affordable homes, especially in urban areas.
BUKIT MERTAJAM - The country's rapidly growing economy is once again driving the development of real estate and the housing industry.
This healthy growth allows many developers to offer various new housing projects, both in urban and rural areas, providing opportunities for the public, especially young people and first-time buyers, to own their assets.
To realise this aspiration, UDA Holdings Berhad (UDA), a real estate development and asset management company, offers various opportunities for those with moderate and low incomes to own their property and dream home.
The Group's chief operating officer for Property and Technical Business Datuk Nordin Murat said that despite competition with many leading developers, UDA has its strengths in providing affordable homes, especially in urban areas, in line with its motto and founding agenda.
He stated that the positive growth in demand for housing, especially those priced below RM500,000, presents an opportunity for UDA to develop more affordable housing projects in the next three years.
"Although there is competition, we see it as a healthy development because Malaysians come from various backgrounds and lifestyles. Some aspire to own premium homes for personal ownership and investment.
"UDA is confident with its strategy and experience in developing affordable housing projects in urban areas despite the existing competition. This gives UDA a perspective on how to emerge as an important player in the real estate development industry in the country," he said.
He said this during the 449th Wacana Sinar titled 'Rumah Sendiri, Bila Nak Beli?' The Wacana Sinar, held in conjunction with the UDA 2024 Carnival at the Tapak Parkir Gravitas, Perai, featured panelists including Penang's Housing and Environment Exco Datuk Seri Sundarajoo Somu and real estate consultant Yusri Yusoff with Ismail Adnan as the moderator.
Commenting further, Nordin said that UDA is currently preparing housing projects that meet market needs and continues to develop affordable homes in major urban locations such as Penang, Klang Valley, and Johor.
In Penang itself, UDA is currently developing affordable housing projects in Wakaf Seetee Aisah, Seberang Jaya, and will soon start a project at 8&8 Residensi in Tanjung Tokong.
He added that the demand for landed houses is more popular compared to strata houses for a living, besides buyers prioritising strategic locations, facility amenities, and easy access. He noted that UDA finds no issue with the demand for strata houses if the prices offered are suitable for the location.
"For example, in Penang itself, UDA has met the demand for landed houses through several previous projects such as Taman Pauh Jaya, Taman Seri Indah, and Taman Seri Serdang in Kepala Batas," he said.
Introducing New Scheme
Meanwhile, Sundarajoo stated that the state government will introduce a new category under the Affordable Housing Type B (RMM B2) to ensure more residents, especially young people, can own their own property.
The new product will be launched at the end of this year, offering a maximum price of RM100,000 with house sizes ranging from 850 square feet (78.96 square meters) to 900 square feet (83.61 square meters).
According to him, RMM B2 can meet the needs of those with incomes of RM5,000 to own affordable homes in the state.
"This new product is suitable for young people just out of university who usually earn less than RM5,000, with home prices up to RM100,000.
"This product will be presented at the State Planning Committee (SPC) level before the scheme is ready to be introduced to Penang residents, expected this Nov," he said during the programme.
Sundarajoo, who is also the State Assemblyman (ADUN) for Perai, said that the state government aims to build 220,000 affordable homes starting from RM42,000 for the people of Penang.
"By introducing this new scheme, each income category will have its own category qualifying them for suitable loans. "This step is to reduce the community's burden and make their dream of owning their own home achievable," he added.
Meanwhile, real estate consultant Yusri Yusoff opined that besides competitive and affordable prices, buyers will surely evaluate the strategic location and mature accessibility of the home for convenience.
He said that the construction of the Bayan Lepas Light Rail Transit (LRT) Project in Penang will further boost the housing sector, attracting buyers.
