Titijaya unit joins PNSB consortium to develop RM343 mil, 1,202-unit Rumah Idaman project in Selangor

PETALING JAYA (June 11): Titijaya Land Bhd's wholly owned subsidiary NPO Builders Sdn Bhd has entered into a consortium agreement with PNSB Construction Sdn Bhd to develop a RM343 million gross development value (GDV) affordable housing project under the Rumah Idaman programme in Selangor.

In a Bursa Malaysia filing yesterday, Titijaya said PNSB Construction, a wholly owned subsidiary of Permodalan Negeri Selangor Bhd (PNSB), and NPO Builders had formalised the collaboration under the "Consortium of PNSB Construction-NPO" to undertake the development of affordable homes.

The project will be developed on a strategic 12.997-acre parcel, part of Lot 85722, and will comprise a total of 1,202 residential units, structured as follows: 240 units of Rumah Idaman Category 1 priced at RM250,000 each with built-ups of 1,000 sq ft, and 962 units of Rumah Idaman Category 2 priced at RM295,000 each with built-ups of 1,080 sq ft.

Under the consortium arrangement, PNSB Construction will act as the principal delivery partner responsible for facilitating strategic planning and managing approvals with local authorities and the Selangor state government, to ensure that state policies and aspirations on affordable housing are fully complied with, while NPO Builders will serve as project manager overseeing the construction phase, technical resources, manpower, machinery and overall project delivery in line with the stipulated schedule.

PNSB chief executive officer Raja Ahmad Shahrir Iskandar Raja Salim said the collaboration combines PNSB Construction's regulatory facilitation capabilities with NPO Builders' technical expertise to support the timely delivery of conducive and affordable housing for Selangor residents, without compromising on construction quality.

Separately, Titijaya group managing director Datuk Lim Poh Yit said the partnership is aligned with the group's aspiration to contribute to community development through the provision of quality affordable homes, adding that NPO Builders’ project management experience is expected to further strengthen access to homeownership in Selangor.

..........

Read about emerging trends, data-backed insights, growing subsectors, and expert commentaries in EdgeProp print. Subscribe now for your free copy!