KUALA LUMPUR: Gagasan Nadi Cergas Bhd’s wholly-owned subsidiary, Nadi Cergas Sdn Bhd, has received a Letter of Award (LoA) from Paramount Property (Sepang) Sdn Bhd, a subsidiary of Paramount Corporation Bhd, to design and build high-rise affordable housing project worth RM195.2 million.
In a statement today, Gagasan Nadi said the company would undertake the turnkey contract of designing and developing 1,076 high-rise residential units in Greenwood Salak Perdana, Selangor.
The construction works will commence in the fourth quarter of 2022 and the project is expected to take 48 months to complete, it said.
Group managing director Wan Azman Wan Kamal commented that the LoA bodes well with the group’s commitment to provide affordable accommodation to the people and support the government in reducing the overall housing shortage gap nationwide.
“Heading into the new year, we will continue to tender for similar projects from both public sector and private developers, while also focusing on delivering more than 10,000 units of affordable houses within our outstanding order book,” he said.
Gagasan Nadi said, under the group’s projects-in-hand, it is slated to deliver more than 10,000 units of affordable homes in the next six years, in supporting notable property developers such as Paramount Group and Kwasa Land Sdn Bhd.
The group’s outstanding orderbook currently stands at RM2.5 billion, it added.
Among the projects are the construction of a mosque at Merdeka 118, various affordable housing projects within the Klang Valley, the MRSM full-facility campus, Cardiology Centre in Serdang Hospital, as well as the Putrajaya Homes public residential development. – Bernama