PUTRAJAYA, Jan 23 — The existing National Housing Policy will be reviewed based on the MADANI framework to align with the vision to create a prosperous nation and balance for all Malaysians, according to the Local Government Development Ministry (KPKT).

In a statement issued here today, the ministry said that through the new housing policy and more organised planning, as well as with the cooperation of all housing agencies at the federal and state levels, and developers, it would be able to achieve the target of providing 500,000 affordable houses by 2025.

"The ministry is prepared to review existing initiatives, find new incentive opportunities and facilitate all forms of procedures in the approval of housing development so as to give space for active participation by private housing developers to provide affordable houses that are of quality for the people," it said.

The ministry also said it would look into the housing policies in several countries, particularly Singapore, for its success in providing public housing for 80 per cent of its citizens who are eligible, regardless of their race.

It said the ministry planned to share with Singapore its knowledge of the development and management of affordable housing.

The new National Housing Policy will take into account the various needs of the people according to their culture, customs, religions and scenarios of the multi-racial society in the country, it said, adding that the ministry also planned to share with Singapore its knowledge on the management of affordable housing.

This is to strengthen the country's housing development strategy based on the six core values of Madani , namely keMampanan (Sustainability), KesejAhteraan (Prosperity), Dayacipta (Innovation), hormAt (Respect), keyakiNan (Trust) and Ihsan (Compassion), it said. — Bernama