Yesterday, the Johor ruler unveiled the freehold project to mark his 59th birthday celebration which takes place tomorrow.
Sultan Ibrahim called the project a “gift” for his subjects, adding that he wanted them to become “a home-owning society”, The Star reported.
“I want this to be a first-of-its-kind housing scheme that is truly affordable, offering the cheapest and best quality houses to the people.
“Imagine owning a three-bedroom bungalow or a semi-detached house priced at below RM100,000 per unit,” he said in a statement.
Amid growing excitement over the project, The Star said today that many had taken leave to attend the soft launch of Phase One at the Galleria@Kotaraya Mall in Johor Baru, while those working in other states had also gone back for the event.
They told the daily they were impatient for details and thanked the Johor ruler for providing affordable housing as property prices there were skyrocketing.
“This is a really fantastic opportunity,” one Johorean was quoted as saying.
According to The Star, Sultan Ibrahim said the offer was open to all eligible Johoreans, and that successful applicants would only need to pay a deposit of RM1 for a full loan with an easy repayment scheme.
However, in the interest of fairness, the selection process for the houses would be stringent, the report quoted the Ruler as saying.
The project is said to be under the Sultan Ibrahim Foundation and in collaboration with Bank Rakyat. The ruler said a total of 1,840 homes would be built over several phases at Bandar Dato Onn, Bandar Baru Majidee and Jalan Yahya Awal.