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Gunung Capital and Majuperak to develop RM3 billion affordable homes project in Perak

KUALA LUMPUR (Aug 10): Gunung Capital Bhd and Majuperak Bina Sdn Bhd today announced the development of a RM3 billion worth affordable homes project in Perak.

Gunung Capital has today entered into a Memorandum of Understanding with Majuperak Bina for the collaboration. It involves 15,000 affordable homes priced at RM200,000 each, as well as other infrastructure-related projects in Perak.  

Majuperak Bina is an indirect wholly-owned subsidiary of Majuperak Holdings Bhd, which in turn a company majority-owned by the Perak state government.

“Gunung Capital is currently developing numerous small-hydropower projects in Perak, together with Menteri Besar Incorporated (Perak state government’s investment arm). This collaboration with Majuperak is to further capitalise on Gunung Capital’s construction and development expertise with a State Government-linked company that has an extensive land bank,” said Gunung Capital executive director Tan Sri Ali Hamsa in a media statement today.

Perak state government’s target to build 50,000 units for the B40 group under the Rumah Perakku programme, has only been partially fulfilled, with a shortfall of 15,000 units.

Rumah Perakku is an affordable housing programme managed and is run by the state’s Housing and Property Board as well as Perak State Development Corporation.

Majuperak has been tasked to address the affordable housing shortfall in Perak.

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