PETALING JAYA (OCT 25): Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund Board (EPF) and the master developer of the Kwasa Damansara township, is collaborating with Gagasan Nadi Cergas Bhd to develop its first phase of affordable housing under Rumah Selangorku (RSKU) type IDAMAN at the township.
In a media statement today, Kwasa Land said under the collaboration, two freehold residential plots identified as Plots R4-1 and R4-2 with a combined land area of approximately 39.12 acres have been designated to make way for 3,990 units of RSKU IDAMAN with Phase 1 targeted for completion by end of 2024.
Kwasa Land managing director Adenan Md Yusof said despite the challenging economic and market outlook, the demand for affordable homes especially in urban areas remains strong.
“Our objective is to develop a township that is green, connected and inclusive. The pandemic has affected every layer of society and we see a pressing need to help in relieving the burden of the rakyat especially the lower income groups. Our contribution will come in the form of providing affordable homes in Kwasa Damansara,” he added in the statement.
Kwasa Land will allocate 40% of the total housing in the township as affordable home units and will be facilitating the development by providing prime land at a reasonable value compared to market valuations to their development partners.
“This will enable our partners to optimise the cost of development in turn enabling them to sell the units at a competitive and affordable price,” he said, adding that Gagasan Nadi Cergas has extensive experience, knowhow and proven ability in the construction of affordable homes.
“We are committed to support the federal and state government in assisting those in low-income groups, especially first-time homebuyers to own a quality home,” he added.
Gagasan Nadi Cergas managing director Wan Azman Wan Kamal said the company shared a similar vision as Kwasa Land in making good quality affordable homes for the public.
“This bodes well with our commitment to support the government in narrowing the current affordable home gap within Malaysia, which is increasingly crucial as the country braves through the aftermath of the pandemic,” he added.
The affordable housing project has an estimated Gross Development Value (GDV) of approximately RM1 billion and each phase will take about 36 months to develop. Each unit will be built with 3-bedroom and 2-bathroom with a built-up area of approximately 1,000 sq ft and will be priced at RM250,000. Each unit will also be partially furnished with kitchen cabinets, a wardrobe, TV set and cabinet, air conditioners in all bedrooms, water heaters and a refrigerator.
In addressing the difficulty of getting loans and making down payments, 130 units will be allocated to deserving buyers under the Smart Sewa scheme by Selangor Housing and Property Board (LPHS).
Kwasa Damansara township covers 2,257 acres, sited in the vicinity of Kota Damansara and Subang SkyPark air terminal. The township is expected to have a population of over 250,000 residents upon completion.
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