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MajuPerak in JV to develop affordable housing in Perak

KUALA LUMPUR (July 16): MajuPerak Holdings Bhd’s subsidiary Syarikat Majuperak Bhd has entered into a Joint Venture (JV) agreement today with JT Gardens Sdn Bhd to undertake a residential development project for affordable housing in Perak.

In a press statement today, the JV entails the development of two apartment blocks located in Mukim Ulu Kinta, Tambun, Ipoh.

The 4.23-acre site will comprise 300 residential units with prices ranging from RM258,000 to RM288,000. The development will have facilities such as a gymnasium, nursery, swimming pool, convenience store and security services.

The development is targeted to commence this year and is set for completion in 2024.

MajuPerak Holdings group CEO Nizran Noordin said by leveraging on the company’s combined expertise in the property development sector, together with JT Garden’s solid track record in innovative development systems especially for affordable housing, this partnership demonstrates his company’s commitment to providing opportunities for affordable homeownership.

“Coupled with the estimated gross development value of the project of RM83 million, we look forward to the positive spillover effects that the development will contribute to the state economy via the commercial and services sector,” he said in the press statement.

JT Gardens will be utilising an industrialised building system, the Monolithic Construction System (MCS), to deliver a quality, efficient and economical project.

The usage of this system also enables a shorter development period with lower manpower required, which will translate into savings for the affordable housing project.

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