UDA targets 19 project launches worth RM1.57b

UDA Holdings Bhd will be launching 19 property projects this year with a gross development value (GDV) of RM1.57 billion.

Its chairman Datuk Nur Jazlan Mohamed said the projects will be launched in Johor, Penang, Pahang and Kuala Lumpur.

"More than 1,000 units of properties will be offered to buyers," he told a press conference following the launch of UDA Holdings' property carnival at Sutera Mall, here, on Saturday.

He said UDA Holdings was also hoping for a capital boost from the government so that it could implement the housing projects based on the "build then sell" concept.

UDA, which is a government agency under the Finance Ministry, has already been selected by the government to carry out housing projects based on the "build first, then sell" system.

"Without the capital help from the government, we are concerned that if we carry out the development under the 'build then sell' system, it would affect the cash flow of UDA Holdings," he said.

Nur Jazlan, who is also member of parliament for Pulai, said although UDA Holdings comes fully under the Finance Ministry, it does not receive grants from the government.

On the plans for Perumahan Rak-yat 1Malaysia (PR1MA) to build more than 10,000 affordable homes in the Tampoi area, which comes under the Pulai parliamentary constituency, Nur Jazlan welcomed it, saying that it would greatly reduce the burden of those in the middle class in owning houses.

Asked whether the land for the 10,000 PR1MA homes in Tampoi was owned by UDA Holdings, he said he was yet to be sure of the location for the PR1MA homes in Tampoi.

Meanwhile, Bernama has reported that the PR1MA project in Tampoi will be built on land owned by UDA Holdings and that negotiations between the two parties have already started.