Perbadanan PR1MA Malaysia (PR1MA) is expected to be transformed into a national housing corporation to better fulfill and adapt to the existing market conditions.
The Minister of Housing and Local Government, Zuraida Kamaruddin elucidated that PR1MA would take more time to dissolve. She also said the government was looking at PR1MA to develop various housing projects with lifestyle concepts.
Now, the government has decided the turnaround plan to ensure better monitoring and implementation in the centralized housing industry.
She also revealed that ‘The Ministry of Housing and Local Government’ has already resolved various issues associated with PR1MA, including unsold luxury homes and overhang.
In one interview, PR1MA Acting Chief Executive Officer Mohd Nazri Md Shariff said, undergoing transformation would help PR1MA to get the most out of the change exertion, which can be observed within the organization in order to expand the business and other relevant procedures.
PR1MA chairman Tan Sri Eddy Chen Lok Loi also revealed the difficulties to meet the organization’s obligations or its substantial part.
He also ensures that the organization will recover as much money as possible as a result of the turnaround plan.
PR1MA was created with the objective of planning, constructing and maintaining reasonably-priced high-quality housing for middle-income households in the urban and suburban centres.
As such, PR1MA said, the development projects are planned to develop the maximum effect on the country’s economy. Though it works in creating value from the land, it also opens up more job opportunities and commercial benefits for the residents.
PR1MA also focused on various housing projects for home-owners to adore various amenities that entirely fit for the modern Malaysian lifestyle.
But, Zuraida said, one of the main reasons behind the PR1MA transformation is its several buildings which are being built in disputed or questionable locations.
Moreover, the government has also decided not to disturb the housing programme of PR1MA, here, the organization has acclaimed the government for this decision.