PR1MA submits RM8.1bil investment proposal to the Qatar Investment Authority, which includes housing development

NEW STRAITS TIMES. 30TH MARCH: The Qatar Investment Authority (QIA) has received a strategic investment proposal worth RM8.1 billion from Perbadanan PR1MA Malaysia (PR1MA) to explore investment opportunities in Malaysia, particularly in the housing sector.

According to Bernama, Prime Minister Datuk Seri Ismail Sabri Yaakob said that the Qatari government had agreed for QIA, the state’s sovereign wealth fund, to hold further discussions with PR1MA to provide more affordable housing for Keluarga Malaysia (the Malaysian Family).

He said that the decision was personally conveyed by the Amir of Qatar Sheikh Tamim Hamad Al Thani, during their meeting following the official reception at Amiri Diwan yesterday morning.

“The target given so far is to build 500,000 units of affordable homes for Malaysian families,” he told Malaysian media at the end of his three-day official visit to Qatar yesterday.

The objective of PR1MA, a Malaysian government initiative, is to develop affordable housing for the middle-income group in Malaysia’s key urban centres.

A PR1MA terraced house is typically 850 sq ft to 1,850 sq ft in size, while a high-rise unit is 600 sq ft to 1,200 sq ft in size. The prices range from RM100,000 to RM400,000.

You must be a Malaysian citizen, have an individual or combined household income of RM2,500 to RM15,000, be over the age of 21, and own no more than one property between you and your spouse to be eligible for the PRIMA scheme.

Meanwhile, Ismail Sabri expressed gratitude to Qatar for selecting Malaysia as a major investment destination in Southeast Asia, particularly in the real estate and services sectors.

He said that the total value of Qatar’s investment in Malaysia to date exceeds US$3.2 billion (RM13.49 billion).