He said the company would play a role to purchase the homes from the developers before renting them out to eligible buyers.

‘‘The buyers will be given an option to purchase the homes after renting them for two years with part of their rental used to reduce the cost of the homes,’’ he said

Iskandar said the sale of the houses would be done through the banks.
However, he said, the tenants of the homes would be given the option to continue to stay on rental basis until they were able to obtain loans.

“They also have the option to own the homes once they have paid the cost of the homes through the rental they have paid,’’ he said, adding that the state had allocated RM10mil for the scheme.

Iskandar said the scheme Dana Sel was being implemented as part of the General Election 2013 manifesto of Pakatan Rakyat.



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