Gagasan Nadi Cergas secures RM40 million affordable homes project

Construction group and concessionaire, Gagasan Nadi Cergas Berhad continued its winning streak for affordable homes construction, having secured another project worth RM40.0 million to construct affordably-priced homes in Serendah, Selangor.

The Serendah project entails Gagasan Nadi Cergas entering into DRA with MBI to build 148 units of affordably-priced homes with indicative Gross Development Value of RM60.8 million. The project comprises 108 units of affordably-priced terrace houses; and 40 units of townhouses under the Rumah Selangorku programme, which will be built on a 12.9-acre land.

This new construction project followed closely the Group’s recently secured single-largest construction contract worth RM777.0 million to construct 4,319 units of affordable homes in Shah Alam under the Rumah Idaman programme by the Selangor State Government on July 8.

Buoyant on the new mandate, Gagasan Nadi Cergas’s group managing director Haji Wan Azman bin Wan Kamal stated this was the third time Gagasan Nadi Cergas was contracted to participate in the Rumah Selangorku programme. Prior to this, Gagasan Nadi Cergas also secured Rumah Selangorku construction contracts for the 570-unit Bukit Raja and 1,700-unit Putra Heights projects.

“This award will keep Gagasan Nadi Cergas busy in delivering more than 5,000 units of affordable housing throughout the Malaysia over the next six years.  Despite the challenging construction sector stemming from the Covid-19 pandemic, Gagasan Nadi Cergas’s total contract wins year-to-date is RM817 million,” said Wan Azman.

This project is expected to contribute positively towards the future earnings of Gagasan Nadi Cergas for the duration of the contract and brings the Group’s total outstanding order book to approximately RM1.3 billion and will provide positive contribution till the financial year ending Dec 31, 2026.

To be built in a developing township in Serendah, the project also includes construction works for amenities and infrastructures such as guard house, mosque, kindergarten, TNB substation, sewerage treatment plant, and on-site detention pond.

The Group’s other ongoing affordable housing projects are the construction of PR1MA Homes in Pasir Mas, Kelantan; and developing and building 447 units of affordably priced landed homes under the Selangorku Perumahan Penjawat Awam Malaysia housing programme in its Selindung Ulu Yam township.

Rumah Selangorku is a housing scheme designed to support the low-income and middle-income citizens of Selangor in owning their own home at an affordable price.

The eligibility criteria for Rumah Selangorku include an individual over 18 years of age, a resident of Selangor who has not already own a property and a maximum household income of not more than RM10,000 for married couples, and RM3,000 for single individuals.

Interested buyers for the project will require to undergo a balloting process which is conducted by the Lembaga Perumahan Dan Hartanah Selangor.

 

 

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