Prime Minister Datuk Seri Ismail Sabri Yaakob (centre) looks at a replica of the PR1MA Astrum Ampang housing project in Kuala Lumpur April 29, 2022. — Bernama pic
KUALA LUMPUR, April 29 — Prime Minister Datuk Seri Ismail Sabri Yaakob today acknowledged that the ongoing war between Russia and Ukraine has sharply raised construction costs worldwide.
He said his government is committed to address this issue even as he launched a new scheme to make homes in Malaysia more affordable, especially for the middle and bottom-income earners living in urban areas.
“Even though there has been a sharp increase in construction costs as a result of the Russia-Ukraine conflict that has impacted house prices, the government is committed to ensure a solution framework is in place,” he said in his speech at the ground-breaking ceremony of Residensi PR1MA in Astrum Ampang here this morning.
He said the government recognises housing as an urgent need for Malaysian families under the 12th Malaysia Plan (12MP).
“This is in line with efforts to strengthen affordable home ownership for the B40 and M40 groups and prevent them from bearing a heavy financial burden,” he added.
MORE TO COME