Penang on Track to Achieve Affordable Housing Target by 2030

Penang is making significant progress towards its goal of building 220,000 affordable housing units by 2030, with 157,073 units, or 71.4%, currently in various stages of construction. State Housing and Environment Committee Chairman Datuk Seri S Sundarajoo expressed optimism about achieving the target, highlighting the substantial number of units already underway.

Sundarajoo, a first-term assemblyman from the Democratic Action Party (DAP), will lead the housing and environment committee as part of the new state exco lineup in Penang. The lineup includes one Barisan Nasional (BN) assemblyman, seven from DAP, and two from the People's Justice Party (PKR). Chief Minister Chow Kon Yeow praised Sundarajoo's decades of experience in the housing development industry, stating that he will be able to handle the portfolio effectively.

Why this matters: Affordable housing is a critical issue for many Malaysians, and Penang's progress towards its ambitious target demonstrates the state government's commitment to addressing this challenge. The successful completion of these housing units could significantly improve the lives of low and middle-income families in the state.

In related news, Iconic Worldwide Bhd recently received overwhelming support for its rights issue and free warrants, with the company planning to use the proceeds to acquire a strategic 15-acre land parcel in Penang Island. The land, valued at RM45.7 million, will be developed following a rezoning and new development plan, with the aim of unlocking its full value.

Sundarajoo expressed confidence in Penang's ability to meet its affordable housing goals, stating, "With over 70% of the targeted units already in progress, we are well on our way to providing more affordable homes for the people of Penang by 2030." The state government's commitment to this issue, coupled with private sector investments in the housing sector, bodes well for the future of affordable housing in Penang.

Key Takeaways

• Penang aims to build 220,000 affordable housing units by 2030, with 71.4% already in progress.
• Datuk Seri S Sundarajoo, the new Housing and Environment Committee Chairman, is optimistic about meeting the target.
• Iconic Worldwide Bhd plans to acquire a 15-acre land parcel in Penang Island to develop further.
• Penang's affordable housing progress demonstrates the state government's commitment to addressing this challenge.
• Private sector investments in the housing sector, along with government efforts, bode well for affordable housing in Penang.