Gunung Capital, Perak state-owned firm to build affordable homes in Perak

by FARA AISYAH / pic credit:

Gunung Capital Bhd and Majuperak Bina Sdn Bhd (MBSB) have inked a memorandum of understanding (MoU) to develop affordable homes and participate in other infrastructure-related projects in Perak.

MBSB is an indirect wholly-held unit of Majuperak Holdings Bhd, a firm majority-owned by the Perak state government.

As part of the collaboration, the two companies’ first venture would be to develop 15,000 affordable homes in Perak, priced at around RM200,000 per unit.

Gunung Capital is currently developing numerous small-hydropower projects in Perak together with Menteri Besar Inc, the state government’s investment arm, it said in a statement.

The 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.

Majuperak has been tasked to address the affordable housing shortfall in Perak, where the state government is still 15,000 units short of its target to build 50,000 units for the bottom 40% population (B40).