Kwasa Land Sdn Bhd, the master developer of the Kwasa Damansara township, is collaborating with Gagasan Nadi Cergas Berhad (Gagasan Nadi Cergas) to develop its first phase of affordable housing under Rumah Selangorku (RSKU) type IDAMAN at the township.
Under the collaboration, two freehold residential plots identified as Plots R4-1 and R4-2 with a combined land area of approximately 39.12 acres have been designated to make way for 3,990 units of RSKU IDAMAN with Phase 1 targeted for completion by end of 2024.
Encik Adenan Md Yusof, Managing Director of Kwasa Land, said, “ Overall, Kwasa Land will allocate 40% of the total housing in the township as affordable home units and will be facilitating the development by providing prime land at a reasonable value compared to market valuations to our development partners. This will enable our partners to optimise the cost of development, in turn, enabling them to sell the units at a competitive and affordable price.”
Haji Wan Azman Wan Kamal, Group Managing Director of Gagasan Nadi Cergas said, “We share a similar vision as Kwasa Land in making good quality affordable homes for the public. This bodes well with our commitment to support the government in narrowing the current affordable home gap within Malaysia, which is increasingly crucial as the country braves through the aftermath of the pandemic,” Haji Wan Azman added.
The affordable housing project has an estimated Gross Development Value (GDV) of approximately RM1 billion and each phase will take about 36 months to develop. Each unit will be built with 3 bedrooms and 2 bathrooms with a built-up area of approximately 1,000 square feet and will be priced at RM250,000. Each unit will also be partially furnished with kitchen cabinets, a wardrobe, TV set and cabinet, air conditioners in all bedrooms, water heaters and a refrigerator.
In addressing the difficulty of getting loans and making down payments, 130 units will be allocated to deserving buyers under the Smart Sewa scheme by Selangor Housing and Property Board (LPHS).
Kwasa Damansara township covers 2,257 acres, sited in the vicinity of Kota Damansara and Subang SkyPark air terminal. The township is expected to have a population of over 250,000 residents upon completion.