Gagasan Nadi Cergas again secured Rumah Selangorku project worth RM40m

KUALA LUMPUR 16 July - Construction group and concessionaire, Gagasan Nadi Cergas Berhad (Gagasan Nadi Cergas) continued its winning streak for affordable homes construction with another project in Serendah, Selangor worth RM40 million.

The Serendah project entails the group entering into development rights agreement (DRA) with Menteri Besar Selangor Pemerbadanan (MBI) to build 148 units of affordably-priced homes with indicative gross development value (GDV) of RM60.8 million.

This new construction project followed closely the group’s recently secured single-largest construction contract worth RM777 million to construct 4,319 units of affordable homes in Shah Alam under the Rumah Idaman programme by the Selangor gtate government on 8 July 2020.

Gagasan Nadi Cergas’s Group Managing Director, Wan Azman Wan Kamal stated, the project marked the third time the group was contracted to participate in the Rumah Selangorku programme.

“Fresh from our victory in securing our single-largest construction contract, this new achievement 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 Selangor's constructor of choice in building cost-efficient and quality affordable homes,” he said in a statement.

This project is expected to contribute positively towards the future earnings of Gagasan Nadi Cergas for the duration of the contract and brings the group’s total outstanding order book to approximately RM1.3 billion driving positive contribution till the financial year ending 31 December 2026.

“To be built in a developing township in Serendah, the project also includes construction works for amenities and infrastructures such as guard house, mosque, kindergarten, TNB substation, sewerage treatment plant, and on-site detention pond,” he added. 

Rumah Selangorku is a housing scheme designed to support the low-income and middle-income citizens of Selangor in owning their own home at an affordable price. 

The eligibility criteria for Rumah Selangorku include an individual over 18 years of age, a resident of Selangor who has not already own a property and a maximum household income of not more than RM10,000 for married couples, and RM3,000 for single individuals. - DagangNews.com