PR1MA under transformation to improve business

PETALING JAYA (May 8): Perbadanan PR1MA Malaysia (PR1MA) said it is currently undertaking a transformation exercise to better fulfil its mandate and adapt to market conditions. 

The business transformation is part of the strategy to ensure that the organisation is better aligned with the government’s national housing agenda, said PR1MA in a statement today. 

A due diligence is currently being undertaken and is expected to be concluded in June, it added.

Acting CEO Mohd Nazri Md Shariff said the transformation exercise is expected to enable the affordable housing body to maximize the effectiveness of the change effort that is taking place within the organisation to further improve its business and operations.

The housing body also believes that it is well on its way to make its turnaround a success.

“As a government entity, PR1MA is committed to ensure that its obligation with stakeholders including homebuyers is honoured,” Mohd Nazri said.

“In fact, through the ongoing Home Ownership Campaign (HOC 2019), PR1MA has achieved sales bookings of around 10,200 homes with a sales value of RM2.56 billion, within less than three months of the HOC’s launch.”

PR1MA also lauded the government’s decision to continue with the PR1MA housing programme, carrying forward its main objective to build quality homes in urban and suburban areas and making them affordable to the rakyat, particularly the middle-income (M40) group. 

“Previously, government-aided housing programmes were focused only on the lower-income group and this means about half of middle-income Malaysian households are unable to afford a house in key market centres. As such, PR1MA was formed with the primary objective to provide fairly-priced quality homes for the M40 income group in the urban and suburban areas,” it said.

In its statement, PR1MA said that a total of 43,137 PR1MA units are in active construction and the response to PR1MA developments remains positive from potential home buyers.