PM unveils National Public Housing Management Corporation (3PAN)
Prime Minister Datuk Seri Najib Tun Razak last Friday announced the establishment of the National Public Housing Management Corporation (3PAN), which would monitor the construction as well as the maintenance of the People’s Housing Projects (PPR).
According to Najib, 3PAN will be enforced immediately and it will take over the functions of the local authorities and district councils which faced financial constraints in maintaining and managing the houses, reported Bernama.
He revealed that, commencing 3PAN was one of the decisions made at the National Housing Council (NHC) Meeting Series 3 that was chaired by him to discuss the status of the One Million Affordable Housing project’s implementation.
“With the new concept, the government is confident that 3PAN will manage the People’s Housing Projects better, including improvements which can be made, and if there is a need to redevelop areas or the projects,” he adds.
the statement in his speech after witnessing the signing ceremony for the RM3 billion loan extension facility between Maybank and 1Malaysia Peoples’ Housing (PR1MA) Corporation.
The agreement will sponsor part of the cost in constructing commercial and residential units under the PR1MA Homes programme.
Meanwhile, the One Million Affordable Homes unveiled in 2013 met its target, with 17.1 percent or 194,456 units completed from January 2013 to June this year, says Najib.
During the meeting, it was also agreed that new regulations or concepts will be applied in the MyHome (Private Affordable Ownership Housing Scheme) programme.
“The government will provide subsidy upfront, on condition the developer gives a bond guarantee to the government. At present, the government subsidy is given after the project is completed and purchase signed. As such, the new regulation will benefit the buyer and developer under the MyHome scheme,” says Najib.