Housing and local government minister Nga Kor Ming said six additional projects in Melaka, Kedah, Negeri Sembilan and Kelantan are expected to be completed by the year-end.

“As of August, PR1MA had 88 projects, comprising 54,137 units in various stages of development.

“Of these, 61 projects totalling 41,321 units have been completed, while 27 projects with 12,816 units remain under construction or planning,” he told reporters after the key handover ceremony for the Bukit Gelugor Ideal Residency here today.

This project is a collaboration between PR1MA and Ideal Capital Venture Sdn Bhd. It was completed ahead of its scheduled date of August 2025.

Nga said this project comprises 1,218 units and is PR1MA’s largest project in Penang. He said 1,198 units, each spanning 850 sq ft and costing RM300,000, had been sold as of Sept 30.

To prevent an overhang in properties in the future, Nga said the ministry was developing a big data analytic software. This tool will be made available to developers, enabling them to understand housing needs and costs in their respective areas.

The ministry aimed for the real estate sector to achieve RM200 billion in sales by the year-end, boosting the economy and positively impacting 200 related industries, including construction, furniture and banking.

“The real estate sector continues to grow healthily and we are grateful that, in the first half of the year, we achieved what is required under our key performance indicators of achieving a sales target of RM100 billion,” said Nga.

He added that total sales in the domestic real estate sector hit RM115 billion in the first six months. If this trend continues, it is projected that the sector will reach RM200 billion in sales this year, creating more opportunities in affordable housing and creating more jobs.