PUTRAJAYA: The local government development ministry and BMG Global Sdn Bhd today signed an agreement for the construction of 1,048 units of Rumah Belia Madani (RBM) in the federal capital over the next five years.
Local government development deputy minister Akmal Nasir said RBM would be built on a “cross subsidy” basis by his ministry and the company.
He added that the developer would build 1,996 units of affordable homes, priced at RM300,000 and below for youths under the age of 35. He added that the profits from the sale of the affordable homes will then be used to build 1,048 RBM units as a return in kind to the government.
“The cost of constructing 3,044 housing units on 5.17 hectares of government land in Mukim Batu, Kuala Lumpur will be borne by the developer.
“The rebranding of RBM, which was previously known as Rumah Transit Belia (RTB), is in line with Prime Minister Anwar Ibrahim’s desire to adopt the Madani concept in developing the country,” he told a press conference after witnessing the signing of the RBM Mukim Batu development agreement, here.
The agreement was signed by local government development ministry secretary-general M Noor Azman Taib and BMG Global executive director Sakeri Maming.
RBM will be developed near Kepong Metropolitan Park, while the affordable homes will be built near the People’s Housing Programme (PPR) in Batu Muda, Kuala Lumpur.
Akmal said details on the RMM project would be announced later. - FMT
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