News: HOC 2019 To Generate RM17bil Sales

Sep 30, 2019

With a total of 25,000 homes expected to be sold by year-end, the Home Ownership Campaign is expected to generate around RM17 billion sales.

“As of (yesterday), about 19,700 units were sold. The additional 5,300 units are expected to be sold until year-end,” said Housing and Local Government Minister Zuraida Kamaruddin.

She believes that the sales target would be achieved based on HOC 2019’s current sales achievement as revealed by Real Estate And Housing Developers’ Association of Malaysia (REHDA), reported New Straits Times.

REHDA had said that HOC generated RM14.65 billion in sales, following the sale of 19,784 units of properties as at 13 September.

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Meanwhile, Zuraida shared that the ministry will resolve issues involving more than 500 PR1MA buyers who filed complaints regarding their failure to receive up to 30 percent discounts for their purchases prior to the HOC.

The HOC 2019 saw PR1MA offering up to 30 percent discount to over 42,000 residential units sold from January to June 2019.

“I will have a meeting with them (buyers) for an engagement process to discuss by second week of October,” said Zuraida.

Read more: What is HOC and how it can help you? 

“Based on the rules of sales and purchase, they (buyers) cannot get back the discounts. But, we will be nice and engage with them…We want to know their expectations from the discussion and we will see how best we can solve it,” she added.

HOC 2019 was organised by the ministry in collaboration with REHDA. It was first initiated by the Ministry of Finance as part of the commitment of the government under the National Housing Agenda.

 

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Devin Teo
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CHESTER PROPERTIES SDN. BHD.
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