KUALA LUMPUR: Gagasan Nadi Cergas Bhd has secured an RM40 million contract to construct affordably-priced homes in Serendah, Selangor.
The construction company entered into a development rights agreement (DRA) with Menteri Besar Selangor (Pemerbadanan) (MBI) to build 148 units of affordable-priced homes that has a 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 12.9-acre land.
Group managing director Wan Azman Wan Kamal said the company has also secured Rumah Selangorku construction contracts for the 570-unit Bukit Raja and 1,700-unit Putra Heights projects.
This new achievement, said Wan Azman, is a testament to the group's status as one of the leading builders of affordable housing in the country.
"Backed by our performance in successfully delivering various affordable housing projects throughout the nation, we are poised to continue being the Selangor's constructor of choice in building cost-efficient and quality affordable homes.
"On top of that, this award will keep Gagasan Nadi busy in delivering more than 5,000 units of affordable housing throughout Malaysia over the next six years.
"Despite the challenging construction sector stemming from the Covid-19 pandemic, the group's total contract wins year-to-date is RM817.0 million," he said.
The project is expected to contribute positively towards the future earnings of the group for the duration of the contract and brings its total outstanding order book to approximately RM1.3 billion.
To be built in a developing township in Serendah, the project also includes construction works for amenities and infrastructures such as guardhouse, mosque, kindergarten, TNB substation, sewerage treatment plant, and on-site detention pond.
The group's other ongoing affordable housing projects are PR1MA Homes construction project in Pasir Mas, Kelantan and 447 units of affordably priced landed homes under the Selangorku Perumahan Penjawat Awam Malaysia housing programme in Selindung Ulu Yam township.