Lagenda Properties Bhd seeks to dispel the impression that landed properties in Selangor are out of reach for the general people with its latest development in Bernam Jaya, says its managing director, Datuk Jimmy Doh.
The company will develop a 77.3ha tract of development land in Bernam Jaya, after winning a competitive selection process carried out by Kumpulan Hartanah Selangor Bhd (KHSB).
It intends to construct roughly 2,300 units of single-storey terraced houses and semi-detached homes costing below RM250,000, Doh told NST Property when contacted.
The estimated gross development value is about RM550 million.
"Conscious of the urgent need for more affordable homes within Selangor, given its high population, we intend to provide landed homes that are not only affordable but also a part of a sustainable and well-planned township," Doh said.
In a statement recently, Lagenda said that its wholly-owned unit, Blossom Eastland Sdn Bhd, has formed a partnership with KHSB, a wholly-owned subsidiary of the Selangor government, to develop the land in the Bernam Jaya township.
This is the company's first venture into Selangor, adding to its foothold in Perak, Kedah, Johor, and Pahang.
According to Doh, Lagenda picked Selangor because of the state's vast population and lack of affordable housing.
"We believe that once people have the security of owning their home, it enables them to alleviate home ownership concerns and plan their future with more confidence and optimism," he said.
The property is around 75 kilometres from the city centre of Kuala Lumpur and is easily accessible via the North-South Expressway.
It is expected to promote the northern corridor's socioeconomic progress.
Doh hoped to begin development in stages in the fourth quarter of next year.
"As we continue to roll out more affordable townships nationwide, we believe that the partnership is a crucial step towards cementing its reputation of being at the forefront of affordable housing.
"We genuinely care about making a difference, changing lives for the better, and enabling Malaysians to realise their home ownership dreams. Our continued growth through established partnerships with like-minded organisations enables us to provide everyone with an opportunity to own their own home," he said.