KUALA LUMPUR: Gagasan Nadi Cergas Bhd and Permodalan Negeri Selangor Bhd (PNSB) have commenced the RM286 million Idaman Amani affordable housing project in Elmina.
The development, covering a 3.6-hectare area, will feature two 32-storey towers with a total of 1,063 semi-furnished affordable apartments.
"The project underscores the Selangor State Government's strategy to increase home ownership among Bottom 40 (B40) and Middle 40 (M40) residents," it said.
The project is slated for completion by the third quarter of 2028 (3Q28).
Gagasan Nadi chairman Tuan Ir. Dr. Muhamad Fuad bin Abdullah stated that the company is set to provide as many as 14,000 affordable housing units within the next eight years.
"Our ongoing affordable housing projects, with a gross development value (GDV) of RM1.7 billion, are set to drive significant improvements in our financial performance in the coming quarters.
"We will leverage our integrated business model to deliver well-designed, modern, and affordable homes, providing exceptional value to our home buyers and strengthening our position in the market," he said.
The event was inaugurated today by Selangor Menteri Besar Datuk Seri Amirudin Shari.
He noted that the launch demonstrates the state government's commitment to increasing the availability of affordable housing in Selangor, giving B40 and M40 residents the chance to own homes that are both financially accessible and situated in a vibrant area.
"The state recognises the pivotal role of public-private partnerships in effectively addressing the pressing issue of housing affordability," he adds.