Chow said the Rumah Mampu Milik Bakat Baru Madani project will be ready in the next 10 years, with 38,099 units to be built in Seberang Jaya and Batu Kawan.

“The first phase of the project will largely be built using industrialised building systems (IBS) or modularly built.

“The project will begin with regular construction methods, while awaiting a purpose-built IBS factory to be ready in the next two years,” he told reporters at Komtar here today.

He said approvals from the city council had been fast-tracked at the request of Prime Minister Anwar Ibrahim.

The Seberang Perai City Council approved the planning permission in a record 36 days, similar to a project in Kuala Lumpur where approval was granted in under 40 days.

Chow said the homes are targeted at young and fresh professional graduates looking to settle and work in Penang, as well as technical workers and engineers.

The project is a joint venture between the Penang Development Corporation and SkyWorld Development Bhd.

Priced between RM225,000 and RM420,000, the homes will be located on two prime plots in Penang – 13.7ha in Seberang Jaya and 65.3ha in Bandar Cassia near Batu Kawan.