It’s finally happening.
Talks about urban re-gentrification and repurposing old commercial buildings into residential units have been going around in recent years. Very soon, B40 youths working in Kuala Lumpur can benefit from DBKL’s micro-home initiative – short-term rental scheme that will only cost its tenants RM100 a month.
Based on a report by NST, Kuala Lumpur Mayor Datuk Nor Hisham Ahmad Dahlan said the micro-home units are allocated specifically for single Malaysians aged 18 – 28 earning less than RM2,000 a month and working within a 25km-radius of the facility. Tenants will get to choose to sign a tenancy agreement for either 1 year or 18 months. They cannot exceed this term as the units will be rotated in order to benefit as many young and struggling Malaysian workers.
He also said there would be no maintenance charge imposed even though the RM200 deposit and RM100 rental cannot cover costs.
The remodelling and renovation of the shop houses cost around RM5-7 billion. Datuk Nor Hisham said the initiative is not about profit, but it’s about helping the young B40 group by giving them a fresh start until they’re ready to stand on their own feet.
According to Property Advisor’s transaction data, a terraced shop in Jalan TAR was transacted for RM1,795/sq.ft. in April 2018. It could fetch up to RM7,000/sq.ft.
The upcoming micro-home facilities will first be launched in 2 phases; with the first phase expected to be completed by the end of 2019 and the second phase by Q1 2020.
The first of the 2 phases will involve a pair of 7-storey shophouses in Jalan TAR. The 1st phase will house 190 tenants while the 2nd phase will cater to another 135 tenants. The 7-square-metres units will be partly-furnished and can accommodate 3 – 7 people.
According to the report, the furnishing, appliances and facilities provide are beds, microwaves, pantries, surau, reading corner and laundrette. There would also be a guard and warden to keep the facility and its tenants safe.
The micro-home has separate blocks for men and women, and rooms designed for tenants with special needs will also be available.
Registration for the 1st phase should open by August 2019.
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