Gagasan Nadi Cergas’s order book hit an all-time high to over RM1.2 billion with its latest largest construction project worth RM777 million of affordable homes which will be built over the next six years under the Rumah Idaman programme.
The Rumah Idaman programme is the brainchild of Menteri Besar Selangor Incorporated (MBI) to provide affordable housing for the B40 group in Selangor.
The Rumah Idaman homes will be constructed on a 36.6 acres of land in four sites located at Seksyen U8 and U17, Shah Alam. The project is estimated to be completed in 2026, and is expected to contribute positively to the Group in the financial years ending 31 December 2021 (FY2021) to 2027.
Gagasan Nadi Cergas’s Managing Director Haji Wan Azman bin Wan Kamal stated that the Group is confident of not only delivering quality Rumah Idaman homes, but also raising the benchmark for affordable housing in Selangor.
In a statement, Haji Wan Azman said Gagasan Nadi Cergas is pleased to continue playing their integral role to support the Selangor State Government’s clarion call to make affordable homeownership a reality for Selangorians, especially the B40 group.
“Leveraging on our core expertise of design-and-build, this project is a testament in our proven ability to deliver cost-efficient and quality homes in light of our 20-year track record of building affordable homes across Malaysia,” he said.
Haji Wan Azman also further noted that the progress they have made, and their intention to keep growing from strength to strength will continue.
“We are here to help more families in Selangor to have a roof over their head at a price point within their reach.”
The 36.6 acres of lands in Seksyen U8 and U17, Shah Alam to build the project were acquired by the Group from Sime Darby Property Berhad at a cost of RM24.7 million. The land and construction costs will be financed by the internally generated funds, bank borrowings, construction progress billings and sales to eligible homebuyers qualified by LHPS.
The 4,319 units of Rumah Idaman homes will be allocated to registered and qualified homebuyers through a balloting process, which is conducted by Lembaga Perumahan Hartanah Selangor (LHPS), the Selangor state housing regulator.
Gagasan Nadi Cergas is currently participating in various affordable housing progamme via the construction of Rumah Selangorku projects in Putra Heights and Bukit Raja, Selangor and PR1MA Homes in Pasir Mas, Kelantan. Additionally, the Group is currently developing and building 447 units of affordably priced landed homes under the SelangorKu Perumahan Penjawat Awam Malaysia (PPAM) housing programme in its Selindung Ulu Yam township.