Gagasan Nadi Receives RM195 Million LA To Build Affordable Homes From Paramount

Gagasan Nadi Cergas confirmed that it had received a Letter of Award from Paramount Property a subsidiary of public-listed Paramount Corporation Berhad for its earlier proposal for the Turnkey contracts involving the design, execution, construction, and completion of the proposed Affordable Homes Greenwood Salak Perdana, Selangor comprising 1,076 units of affordable homes of 1,000 square feet selling not more than RM250,000 each for a contract value of approximately RM195,210,000.

The company involved in construction first proposed and received a letter of intent from Paramount for two contracts to build 2,005 units of affordable homes for a total contract value of RM385 million. However, as for the Affordable Homes Kemuning Utama, Selangor comprising 929 units of affordable homes of 1,000 square feet the Letter of Award will be handed on a later date.

It added the houses which also be sold for not more than RM250,000 each and with a contract value, RM189,790,000 will be issued by Paramount Property Development once the pre-construction planning and implementation work had been finalised.

MD Haji Wan Azman bin Wan Kamal “This LA bodes well with our commitment to provide affordable accommodation to the Rakyat and support the Government in reducing the overall housing shortage gap nationwide.

Heading into the new year, we will continue to tender for similar projects from both public-sector and private developers, while also focus on delivering more than 10,000 units of affordable houses within our outstanding orderbook.”

Under the Group’s projects in hand, Gagasan Nadi Cergas is slated to deliver more than 10,000 units of affordable homes in the next six years, supporting notable property developers such as Paramount Group and Kwasa Land Sdn Bhd.

Gagasan Nadi Cergas has a current outstanding orderbook of RM2.5 billion, including the mosque construction project at Merdeka 118, Kuala Lumpur; various affordable housing projects within Klang Valley; the MRSM full-facility campus in Dungun, Perak; Cardiology Centre in Serdang Hospital, Selangor; as well as Putrajaya Homes public residential development in Putrajaya.

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