More Malaysians to own a home under PR1MA-MBSB Bank-SJKP collaboration

• In a joint statement on Friday, the parties said a Memorandum of Understanding (MOU) inked between PR1MA and MBSB Bank will see the housing agency receiving financial support to enable developers, contractors and suppliers under it to complete projects on schedule.

KUALA LUMPUR (July 14): PR1MA Corporation Malaysia, MBSB Bank Bhd and Syarikat Jaminan Kredit Perumahan Bhd (SJKP) have agreed to explore ways to further promote home ownership among Malaysians.

In a joint statement on Friday, the parties said a Memorandum of Understanding (MOU) inked between PR1MA and MBSB Bank will see the housing agency receiving financial support to enable developers, contractors and suppliers under it to complete projects on schedule.

PR1MA also signed an MOU with MBSB Bank and SJKP to facilitate access for buyers looking to buy their first home.

"The three parties will work together to provide attractive financing facilities from MBSB Bank and government guarantees from SJKP for PR1MA residential buyers," said the statement.

PR1MA chairman Datuk Azrulnizam Abdul Aziz said the collaboration will support the government's aspirations in increasing the rate of home ownership in the country.

The collaboration between PR1MA, MBSB Bank and SJKP is also in line with the government's announcement in the presentation of Budget 2023 which allocates an additional guarantee of RM3 billion for the Housing Credit Guarantee Scheme.

Starting April 1, 2023, the government has expanded the SJKP scope to include both fixed and variable income groups who qualify under the Housing Credit Guarantee Scheme to obtain housing financing facilities.