Penang Offers Discount To Indian Muslims Under Home Ownership Campaign

Barnama

2 days ago

GENERAL
GEORGE TOWN, June 5 (Bernama) -- The Penang state government will offer a five percent discount to Indian Muslims for the purchase of residential and commercial units under the newly introduced MADANI Home Ownership Campaign (MOC), part of the MADANI Inclusive Property Sector Catalyst Policy.
State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo said the discount would be available throughout the campaign period, from June 1, 2025, to May 31, 2026, to boost the sale of such properties.
'In addition, the Penang State Housing Board has introduced a special category, Rumah MutiaraKu Type D (RMKu D), with a ceiling price of RM400,000, targeted at households earning up to RM15,000 a month.
'This category is not allowed to be sold on the open market and cannot be used to fulfil affordable housing compliance requirements,' he said during a press conference at Komtar today, alongside State Local Government and Town and Country Planning Committee chairman H'ng Mooi Lye.
Sundarajoo also announced a reduction in contribution rates for developers who do not physically build RMKu Type A or B units—from RM120,000 to RM100,000 in areas under the Penang Island City Council, and from RM120,000 to RM72,500 under the Seberang Perai City Council.
To ensure cash flow and timely delivery of RMKu units, Sundarajoo said the previous 20 percent open market release limit has been increased to 50 percent. However, a release fee of 10 percent of the selling price will be imposed.
He added that upgrade packages for open market units will be capped at 50 percent of the base price, and such packages will not be allowed for PN1 units, to maintain transparency in compliance with the RMKu policy.
Other incentives under the policy include waivers on the sale or purchase charges of RMKu A and B quotas for developers who do not meet the price-controlled unit requirements, as well as exemptions from conducting a social impact assessment report.
Sundarajoo said the policy, which was approved during the state planning committee meeting No. 5/2025 on June 3, is expected to have a positive impact by boosting home ownership rates, encouraging approval of strategic new projects and fostering a more inclusive, sustainable and competitive property development ecosystem.