Gagasan Nadi Cergas plans to deliver 10,000 affordable houses

The project is initiated with the support of MB Inc to provide affordable housing to the mass population segment in Selangor 

by S BIRRUNTHA / Pic source Idaman Bukit Jelutong by Nadi Cergas’ Facebook

GAGASAN Nadi Cergas Bhd plans to deliver more than 10,000 affordable houses over the next five years to meet resilient demand in Malaysia. 

The target will begin with the launch of 2,800 units in the financial year ending Dec 31, 2022 (FY22), the group said in a statement yesterday. 

The company unveiled 1,260-unit Rumah Idaman in Bukit Jelutong, Shah Alam in Selangor, with a total gross development value (GDV) of RM304 million. 

The project is initiated with the support of Mentri Besar Selangor Inc (MB Inc) to provide affordable housing to the mass population segment in Selangor. 

Construction works on the development will start in the second quarter of 2022 (2Q22), and is expected to be completed in the 4Q25. 

Gagasan Nadi Cergas’ group MD Wan Azman Wan Kamal stated the homes will be offered to buyers in the bottom 40% and lower-middle 40% income group families and supports the Selangor government’s goal of promoting inclusivity and equity ownership among the rakyat. 

“Since the registration of interest started for the project, we have already received three times more registrations than the units offered — a clear indication that demand for affordable housing is resilient, especially in strategic locations like Bukit Jelutong. 

“Hence, we will ride on this strong interest and launch our subsequent affordable housing developments in hand, starting with the Idaman Elmina West in Shah Alam within the second half of 2022 (2H22). 

“This will reiterate our role in supporting the state’s target of building 30,000 affordable houses by 2026,” Wan Azman noted. 

The group’s Idaman Elmina West encompasses 1,500 affordable residential units, worth a total of RM370 million in GDV. 

Both Rumah Idaman projects are expected to start contributing positively to group revenue in FY22. 

Including Idaman Bukit Jelutong and Idaman Elmina West, the group now has more than 10,000 affordable housing units across Klang Valley to be delivered over the next five years. 

Its other pipeline of affordable housing projects include the Rumah Selangorku housing project in Serendah, two high-rise affordable housing projects for Paramount Corp Bhd in Kemuning Utama and Greenwood Salak Perdana and the Rumah Idaman project for Kwasa Land Sdn Bhd in Kwasa Damansara. 

The Rumah Idaman Bukit Jelutong units will be priced at RM250,000, with a built-up of 1,000 sq ft, featuring three bedrooms and two bathrooms, and accompanied by two car park spaces. 

Each unit is furnished with a TV set, TV cabinet, refrigerator, kitchen cabinets, wardrobes, water heaters and air conditioners. 

The development will also include facilities such as a swimming pool, multipurpose hall, yoga deck, badminton court, kindergarten, study room, children’s playground, jogging track, rooftop garden, BBQ area and a community farm. 

Gagasan Nadi Cergas shares closed half a sen or 1.64% higher at 31 sen yesterday, giving it a market capitalisation of RM233.43 million.