Subsidised cement price to be offered to affordable housing developers in Malaysia

Prime Minister Anwar Ibrahim says that a ‘reasonable’ cement price will be offered to housing developers that develop affordable projects. The initiative is targeted at the Bottom 40% (B40) and Middle 40% (M40) income groups, according to the Bernama news agency. The government is working with the Malaysian Cement and Concrete Association (C&CA) and private housing developers to offer the reduced cement price. US$27m will be provided to back the incentive. 1Mt of cement will be made available at a subsidised discount of 29% under the Rahmah Cement Scheme Initiative.

Anwar Ibrahim said “This private incentive is adequate for the construction of up to 24,000 units of affordable houses.” It is part of the coalition government’s ambition to increase the supply of affordable housing.