KUALA LUMPUR, Feb 6 2018 : The Bukit Jalil 1Malaysia Public Housing Project (PPA1M), which was completed 17 months earlier than scheduled, was the first such project built without using government funds as a result of the implementation of the ‘cross subsidy method’, said Datuk Seri Najib Razak.
The Prime Minister said that through the concept, developers had constructed the project for the government and were allowed to develop the housing project on the adjacent land which would be sold to the public at the market price.
“The ‘cross subsidy’ method was implemented on a 60:40 basis, that is, 60 per cent with a total area of 7.67 acres (3.068 hectares) to be built for the PPA1M which is controlled by the government in terms of price, size and quality.
“While the other 40 per cent with a total area of 5.11 acres (2,044 hectares) were allowed to the developers for the construction of houses at the current market price,” he said.
The Prime Minister said this at the handing over of 1,536 house keys to civil servants for the Bukit Jalil PPA1M project today. – Bernama