PETALING JAYA: Construction group Gagasan Nadi Cergas Bhd had on Dec 28 received a Letter of Award (LA) from a subsidiary of Paramount Corp Bhd (Paramount Group) on the RM195.2 million high-rise affordable housing project.
Nadi Cergas Sdn Bhd, a wholly owned subsidiary of Gagasan Nadi Cergas, received the LA from Paramount Property (Sepang) Sdn Bhd to undertake the turnkey contract of designing and developing 1,076 high-rise residential units in Greenwood Salak Perdana in Sepang, Selangor. Construction will commence in the fourth quarter of the year 2022 and is expected to take 48 months to complete.
The LA comes as a confirmation to the previous letter of intent awarded by Paramount Group on May 24.
“This LA bodes well with our commitment to provide affordable accommodation to the rakyat 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 focus on delivering more than 10,000 units of affordable houses within our outstanding orderbook,“ said Gagasan Nadi Cergas group managing director Wan Azman Wan Kamal.
Under the group’s projects in hand, Gagasan Nadi Cergas is slated to deliver more than 10,000 units of affordable homes in the next six years, supporting notable property developers such as Paramount Group and Kwasa Land Sdn Bhd.
Gagasan Nadi Cergas has a current outstanding order book of RM2.5 billion, including the mosque construction project at Merdeka 118, Kuala Lumpur; various affordable housing projects within Klang Valley; the MRSM full-facility campus in Dungun, Terengganu; Cardiology Centre in Serdang Hospital, Selangor; as well as Putrajaya Homes public residential development in Putrajaya.