Naim to build 20,000 affordable housing in next 10 years

KUCHING: Naim Group of Companies has plans to build more affordable housing in the coming years in response to market demand and calls by the government for more private sector involvement in this regard. This was disclosed by its managing director Datuk Hasmi      Hasnan recently.

A news report earlier this year containing a statement from the Ministry of Housing and Local Government that based on the ministry’s findings Sarawak would need about 75,000 low-cost houses. Hasmi said should Naim’s plans are realised, they would be able to contribute about 27 per cent of the total number.

“Since our inception more than 20 years ago, we are proud to have built some 12,000 units of quality houses in the low and affordable segments on our own, and in collaboration with various state and federal agencies such as Housing Development Corporation (HDC) and Syarikat Perumahan Negara Berhad (SPNB).”

“Moving forward, we will focus on building quality homes in the range of RM250,000 to RM350,000. We plan to build some 20,000 units on our own and or in collaboration with the relevant state and federal agencies.

“We are also seriously looking into building the Sri Pertiwi homes in collaboration with Sarawak Housing Development Corporation, and remain committed to complete the balance of the SPNB housing units as per its requirements and current government policies.”

Hasmi added that Naim is a strong company fundamentally.

“We are backed by our net assets which stand at a healthy RM1.04 billion. We are still primarily an asset-based company, with a sizeable land bank which would allow us to sustain and contribute positively to the local property development sector for many years to come.”

On the issue of cost, Hasmi said they were confident of keeping the development cost at a manageable level for the benefit of future house purchasers.

“We are in the position to do this, based on economies of scale, our relatively competitive land bank, most of which were acquired many years ago and our proven track record in delivering homes which delight our customers,” Hasmi said.

He also welcomed the recently launched ‘FundMyHome’ scheme, aimed to help first-time home owners.

“So far, the scheme involves participating developers from Peninsular Malaysia. We look forward to the scheme being extended to Sarawak developers soon.” Besides affordable housing, Hasmi also touched on service-related issues and the Group’s construction operations.

“In terms of our construction operations, we will be focusing on completing our current order book of some RM1.9 billion including our works package for the Pan Borneo Highway project.

“In addition, to facilitate better service to our clients, we will also be segregating the management of affordable properties and those in the high-end segment such as Naim Sapphire, Naim ‘The Peak’ and other million dollar homes into two operating units starting next year.”

Hasmi said the Group was also hopeful that its planned rights issue to raise RM160 million capital would be approved by its shareholders in the upcoming extraordinary general meeting on Nov 13.

“We believe the Group has greater future and prospects, and should be adequately capitalised to realise the same.”

Source: The Borneo Post, November 9, 2018