Penang: The Penang state government will offer a five percent discount to Indian Muslims for the purchase of residential and commercial units under the newly introduced MADANI Home Ownership Campaign (MOC), part of the MADANI Inclusive Property Sector Catalyst Policy. State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo announced this initiative during a press conference at Komtar, aiming to boost property sales during the campaign period from June 1, 2025, to May 31, 2026.
According to BERNAMA News Agency, the Penang State Housing Board has introduced a special category, Rumah MutiaraKu Type D (RMKu D), with a ceiling price of RM400,000, targeting households earning up to RM15,000 a month. This category is restricted from being sold on the open market and cannot be used to meet affordable housing compliance requirements. Sundarajoo, alongside State Local Government and Town and Country Planning Committee chairman H'ng Mooi Lye, also announced a reduction in contribution rates for developers not physically building RMKu Type A or B units. The rates have been reduced from RM120,000 to RM100,000 in areas under the Penang Island City Council, and from RM120,000 to RM72,500 under the Seberang Perai City Council.
To ensure cash flow and timely delivery of RMKu units, Sundarajoo stated that the previous 20 percent open market release limit has been increased to 50 percent, with a release fee of 10 percent of the selling price imposed. Upgrade packages for open market units will be capped at 50 percent of the base price, and such packages will not be allowed for PN1 units to maintain transparency in compliance with the RMKu policy.
Other incentives under the policy include waivers on the sale or purchase charges of RMKu A and B quotas for developers who do not meet the price-controlled unit requirements, as well as exemptions from conducting a social impact assessment report. Sundarajoo emphasized that the policy, approved during the state planning committee meeting No. 5/2025 on June 3, is expected to positively impact home ownership rates, encourage the approval of strategic new projects, and foster a more inclusive, sustainable, and competitive property development ecosystem.
"We are confident the implementation of the MOC policy will help raise home ownership levels among Penangites. The state government will continue to review, refine, and gather feedback from industry players and the public to improve and update these guidelines," Sundarajoo added. Previous state initiatives include the Home Ownership Campaign (HOC) and the Penang State Property Sector Stimulus Policy 2020, which was extended four times, most recently as HOC 3.0 PLUS, ending on December 31 of last year.