People in Johor now has the chance to own a low-cost house below RM100,000 each, under the auspices of the Sultan Ibrahim Foundation, with a deposit as low as RM1.

This initiative is a collaboration between Bank Rakyat and Sultan Ibrahim Foundation aimed at meeting the needs of 6,000 applicants who are low-income earners to own houses.

Bank Rakyat President and Managing Director Datuk Mustafha Abdul Razak said the bank had allocated RM500 million in end-financing facilities to qualified buyers in accordance with the specified criteria.

"Buyers must first register with the Housing Unit of the Johor State Secretary Office," he said in a statement Friday.

Further details on the project will be announced by the Sultan Ibrahim Foundation through the Housing Unit, Johor State Secretary Office.