Gagasan Nadi Cergas sign two Development Rights Agreements (DRAs) with Kwasa Land on RM1 billion affordable housing development under the Rumah Idaman programme in the Kwasa Damansara township, with a Gross Development Value (GDV) of RM1.0 billion.
The agreement entails the design and development of 3,990 units of affordable housing covering two parcels of land with a combined land size of approximately 39.12 acres.
The first phase of the development is expected to commence in the third quarter of 2022, and is slated to be completed by the end of 2024.
The development will be seen as an endeavor undertaken by both Gagasan Nadi Cergas and Kwasa Land to address the issue of affordable housing woes in the Klang Valley.
The locality of the development will be in Sungai Buloh, Selangor and is accessible to the Kwasa Damansara MRT station. Each unit is priced competitively and affordably at RM250,000. Size-wise, each unit has approximately 1,000 square feet built-up area and will feature three bedrooms and two bathrooms.
“The location, connectivity and price would certainly be a great attraction to potential buyers,” Haji Wan Azman bin Wan Kamal, Group Managing Director of Gagasan Nadi Cergas Berhad said.
“The units will feature innovative and modern design. It reflects Kwasa Damansara’s vision of developing a green, connected and inclusive township with good proximity to transportation networks, schools and parks, making it ideal for families,” Encik Adenan Md Yusof, Managing Director of Kwasa Land Sdn Bhd said.
