First group of People's Housing Project tenants sign agreements

KUALA LUMPUR (Oct 1): A total of 401 People's Housing Project tenants under the National Economic Action Council (NEAC) and Kuala Lumpur City Hall Public Housing (DBKL PH) signed sale and purchase agreements (SPA) involving RM14.98 million in financing.

They were a small part of the first group of tenants who have been given the offer letters under the special NEAC and DBKL PH Financing Schemes, said Federal Territory and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin last Sunday.

"The first phase of the scheme involves 3,137 potential buyers who received an offer of RM111.62 million in loans, while phase two has 4,047 potential buyers with an estimated RM145.6 million," he said during the signing ceremony between the tenants and Syarikat Perumahan Wilayah Persekutuan Sdn Bhd here.

The scheme was announced by Prime Minister Datuk Seri Najib Razak during the Federal Territory Day celebrations in February, aimed at assisting current tenants obtain financing for the houses being offered for sale.

Buyers enjoy 100% financing with a loan repayment period of 25 years. — Bernama