Seeking to increase its talent pool, Kon Yeow says non-Penangites working in state now qualify for affordable homes
KUALA LUMPUR, Dec 10 — The Penang government today launched the Madani talent housing project, a scheme aimed to provide affordable homes for professionals and skilled workers relocating to the state.
Penang Chief Minister Chow Kon Yeow said the state’s robust economic performance, driven by RM71.9 billion in investments in 2023, has turned it into a major hub for foreign direct investment (FDI) and is spurring his administration to accommodate the new talent pool within its borders.
“This growth has led to a sharp rise in the demand for housing in Penang.
“As the chief minister of Penang, I am aware that progressive action must be taken to ensure balanced state development,” he said in his speech at the signing ceremony between PDC Properties Sdn Bhd and Skyworld Development Berhad at the St Regis Hotel here today.
PDC Properties is a subsidiary of Penang Development Corporation (PDC), the agency responsible for planning and developing the state’s economic growth.
Chow said while 50 per cent of affordable housing units are reserved for Penang-born, the remaining 50 per cent will be put on the open market.
“Of the open market units, 50 per cent are allocated for registered voters in Penang, and 25 per cent for non-registered voters.
“To address this issue, the state government, through PDC and PDC Properties, has introduced the Madani talent housing concept, providing opportunities for non-Penang residents to own homes in the state.
“This initiative benefits both Penangites and non-residents working here, offering affordable housing options,” he said.
These three-bedroom, two-bathroom affordable homes measure 900 square feet and will include facilities such as swimming pools, gyms, multipurpose halls, and playgrounds.
The project tender, awarded to SkyWorld Development, is expected to be completed within 15 years and targets the M40 group, with household incomes below RM11,800 per month.
Units are priced between RM250,000 and RM420,000.
The state government has identified two plots of land for the development; a 34.04-acre site in Seberang Jaya opposite Penang Bird Park and a 161.5-acre site in Batu Kawan near Design Village Outlet Mall.
“Across these locations, approximately 354,000 units of Madani Talent Housing will be developed and offered on the open market,” Chow said.
Prime Minister Datuk Seri Anwar Ibrahim said he will closely monitor the project’s progress as a Penang-born and promised to attend the ground-breaking ceremony next year.
“This is in my home state. I was born near Batu Kawan and I grew up near Seberang Jaya. This project, I will closely monitor,” he said in his speech.
