Home / Medical & Health Care / Scheme Helps Low-income Earners Own Dream Homes

Scheme Helps Low-income Earners Own Dream Homes

Dr Sim (front, fifth left) cuts the ribbon to officiate at the opening ceremony Distrepark’s new sales gallery in Sibu Jaya.

SIBU: The Sarawak government has set up its own home financing scheme, Mutiara Financing to assist those from the low-income group own houses.

Minister of Local Government and Housing Datuk Dr Sim Kui Hian points out that the scheme has been doing quite well so far in assisting those in lower income bracket own low-cost residential units.

A lot of people were telling me that they had difficulties in securing bank loans to purchase houses. I mean, buying a house at the moment is not an issue but getting a bank loan � they are facing great difficulties.

So, Sarawak government started (its) own financing called ‘Mutiara Financing’, which aims mainly to help folk (buy) low-cost (houses) � that one, we are doing quite well.

We want people, even if they are poor, to own houses. Often, if based on their employment record, they are not eligible for housing loans from commercial banks.

Mutiara Financing � we are more flexible than commercial banks, knowing that their (applicants) income fluctuates and so on.

The Sarawak government’s whole idea is to let every Sarawakian, as far as possible, own a house, Dr Sim told reporters after officiating at the opening of Distrepark Sdn Bhd’s new sales gallery and the planting of the 8,888th tree in the township yesterday.

Distrepark is the master developer of Sibu Jaya township.

Adding on, he hoped that Bank Negara would be more lenient towards those going for affordable houses, especially to enable the first-time home-buyers secure housing loans.

Many of those wanting to buy affordable houses, even though some of them are first-time home-buyers, have great difficulties in getting housing loans.

So, we hope that Bank Negara would change the policy to at least facilitate the first-time home-buyers in getting housing loans because houses and jobs are the basic needs of the people, he stressed.

Dr Sim also briefly touched on housing programmes such as ‘Ibu Pertiwiku’, urban renewal apart from the federal government’s PR1MA in Sarawak.


Check Also

Malaysian, Chinese companies sign palm oil deals worth US$891 MLN

KUALA LUMPUR, Four Malaysian companies will be exporting 1.62 million tonnes of palm oil, worth US$891 million to China, under purchase intent agreements signed with three Chinese counterparts.Yantai Tianmao Edible Oil Co Ltd has agreed to buy 100,000 ...