Gagasan Nadi Cergas signs DRAs with Kwasa Land to develop affordable housing

CONSTRUCTION group Gagasan Nadi Cergas Berhad via its subsidiary Nadi Emery Sdn Bhd has signed two Development Rights Agreements (DRAs) with Kwasa Development (13) Sdn Bhd to build affordable housing under the Rumah Idaman programme in the Kwasa Damansara township with a gross development value (GDV) of RM1 bil.

The agreements will entail 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.

Priced at RM250,000, each unit will have an approximately 1,000 square feet built-up area and will feature three bedrooms and two bathrooms.

The partially furnished units will be fitted with kitchen cabinets, a wardrobe, TV set and cabinet, air conditioners in all bedrooms, water heaters and a refrigerator.

According to Gagasan Nadi Cergas Berhad group managing director Haji Wan Azman Wan Kamal, the DRA signing marks another step forward in their partnership with Kwasa Land as they collaborate to provide good-quality affordable homes for Malaysians.

“We believe the location, connectivity and price would certainly be a great attraction to potential buyers,” he added.

“This endeavour enables us to actively play our role in assisting the Government to fulfil its national affordable housing agenda.

“Our priority from hereon will be to complete the first phase of construction within the stipulated timeframe and will look to launch subsequent phases in due time.”

Meanwhile, Kwasa Land Sdn Bhd managing director Adenan Md Yusof expressed his belief that the collaborating will contribute significantly to the company’s wider goal of allocating 40% of the total housing units for affordable homes in Kwasa Damansara.

“Kwasa Land looks forward to fulfil the aspirations of first-time homebuyers in line with the Government’s effort to provide affordable housing to the B40 and M40 income groups,” he remarked.

“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.” – Jan 14, 2022

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