The proposed affordable housing project in Kwasa Damansara Township which has been handed to Gagasan Nadi by Kwasa Land has now moved to the next stage with the appointment of an official contractor.
Nadi Emery Sdn Bhd a wholly-owned subsidiary of Gagasan Nadi has been earmarked to undertake the development of the two parcels of 39.12-acre land located at Sungai Buloh, a former Rubber Research Institute.
The massive project in Sungai Buloh is managed by KD13, a private limited company, and is a wholly owned subsidiary of the Kwasa Land, which in turn is a wholly-owned subsidiary of the Employees Provident Fund. KLSB is the master developer of the proposed KWASA Damansara Township in the Selangor located on a 2,257 acres land formerly known as Rubber Research Institute Malaysia land in Sungai Buloh.
The issued and paid share capital of KD13 is RM315,066,130.21 comprising 314,256,832 ordinary shares and 80,929,821 preference shares. Currently, both the abovementioned parcels of land are residential lands that are designated for the development of the Rumah Selangorku affordable housing scheme.
Proposed development for the land will consist of a residential project which will consist of approximately 3,990 units of affordable residential housing with an estimated gross development value of RM1 billion and an estimated construction value of RM750 million. Each unit will be built with 3 bedrooms and 2 bathrooms with a built-up area of 1,000 square feet and will be priced at RM250,000. Each unit will also be partially furnished with kitchen cabinets, a wardrobe, TV set and cabinet, air conditioners in all bedrooms, water heaters and a refrigerator.