The Housing Credit Guarantee Scheme has enabled 80,000 Malaysians to own their first home, with a RM40 billion allocation aiming to reach 100,000 beneficiaries by year-end.
IPOH: About 80,000 individuals have so far been able to own their first home through the government’s Housing Credit Guarantee Scheme (SJKP).
Housing and Local Government Minister Nga Kor Ming said the government has allocated and guaranteed a total of RM40 billion for the initiative, which is the highest amount to date.
He stated that the scheme will continue to be strengthened, particularly to assist those without fixed incomes like gig workers in achieving home ownership.
The minister has set a target of reaching 100,000 beneficiaries by the end of this year.
Addressing concerns over rising construction costs amid the global energy crisis, Nga said his ministry is actively seeking solutions to keep overall costs manageable.
“We urge all construction industry players not to take advantage of the situation,” he said, noting it is a global crisis affecting the entire world including Malaysia.
In a speech earlier, Nga reaffirmed his ministry’s commitment to maintaining stable and affordable housing prices despite ongoing economic pressures.
He added that the ministry is closely monitoring ongoing housing projects to ensure they are not disrupted or delayed by the current challenges.