The state government’s fund for affordable housing will be managed and implemented by the Penang Development Corporation (PDC).
Chief Minister Lim Guan Eng said the PDC would ensure that the RM500mil was used to build affordable units for the lower income group in the state.
“This is the largest amount ever allocated by any state government in the country for this purpose.
“It was decided during the state exco meeting today that the fund would be handled by the PDC, which is part of the state government,” he said.
Lim, who is PDC chairman, said the fund was from the Bayan Mutiara privatisation project conducted via an open tender.
He added that the state government had rejected the previous administration’s plan to move the administration centre from Komtar to Bayan Mutiara when it took over in 2008.
“Building a new administrative centre would have caused between RM600mil and RM800mil.
“We wanted to use the money for social projects that can benefit the people — like affordable housing,” he said during the PDC Chinese New Year open house in George Town yesterday.
Lim said a total of 11,596 affordable homes costing between RM42,000 and RM72,500 had so far been approved by the state government. - By The Star
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