PETALING JAYA (Jan 14): Nadi Emery Sdn Bhd, a subsidiary of Gagasan Nadi Cergas Bhd, signed two Development Rights Agreements (DRAs) with Kwasa Development (13) Sdn Bhd, a unit of Kwasa Land Sdn Bhd, to build affordable housing under the Rumah Idaman programme in the Kwasa Damansara township.
According to a statement on Friday, the agreement entails the design and development of 3,990 units of affordable housing with a gross development value (GDV) of RM1 billion. It covers two parcels of land, totalling 39.12 acres.
The units will be priced at RM250,000, with a built-up area of 1,000 sq ft, featuring three bedrooms and two bathrooms. The partially furnished units will be fitted with kitchen cabinets, wardrobe, television set and cabinet, air conditioners (all bedrooms), water heaters and refrigerator.
Gagasan Nadi Cergas group managing director Wan Azwan Wan Kamal said the connectivity and price of the houses under the Rumah Idaman programme are great attractions to potential buyers.
"This endeavour enables us to actively play our role in assisting the government to fulfil its national affordable housing agenda. Our priority from hereon will be to complete the first phase of construction within the stipulated time frame and will look to launch subsequent phases in due time," he said.
The first phase is expected to commence in the third quarter of 2022 and is expected to be completed by the end of 2024.
Kwasa Land managing director Adenan Md Yusof stated that the collaboration will contribute to Kwasa Land's goal of allocating 40% of the total housing units for affordable homes in Kwasa Damansara.
"Kwasa Land looks forward to fulfil the aspirations of first-time homebuyers in line with the government's effort to provide affordable housing to the B40 and M40 income groups," said Adenan, adding that the development will reflect Kwasa Damansara's green, connected and inclusive township with good proximity to transportation networks, schools and parks.
"The DRA was arrived through a competitive tender process, which considered the development's potential and prospects for affordable housing in the locality of Sungai Buloh, Selangor; the land's proximity to the Kwasa Damansara MRT station; competitive yet affordable market value range with strict conditions placed to only develop affordable residential housing; and the projected RM1 billion GDV to be generated from the development," the statement said.
Gagasan Nadi Cergas' order book currently stands at RM2.5 billion. The affordable housing development in Kwasa Damansara is an addition to its list of projects, which also include a mosque construction project at Merdeka 118, Kuala Lumpur; various other affordable housing projects within the Klang Valley; a full-fledged campus with state-of-the-art facilities for MARA Junior Science College in Dungun, Perak; Cardiology Centre in Serdang Hospital, Selangor; as well as Putrajaya Homes, a public residential development in Putrajaya.
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