KUALA LUMPUR, May 24 — Gagasan Nadi Cergas Bhd (GNCB) today accepted two letters of intent (LOIs) for turnkey contracts worth RM385 million from subsidiaries of Paramount Corporation Bhd to build high-rise affordable homes in Selangor.
In a statement, the construction group said its subsidiary Nadi Cergas Sdn Bhd entered into deals with Paramount Property Development Sdn Bhd and Paramount Property (Sepang) Sdn Bhd to construct these residential projects in Kemuning Utama, Shah Alam, and Greenwoods Salak Perdana, Sepang.
The LOIs are expected to be formalised into contracts by the third quarter of this year.
GNCB said the physical construction works were scheduled to begin in the second quarter of 2022 for 1,076 affordable homes in Greenwoods Salak Perdana and in the fourth quarter of the same year for 929 units in Kemuning Utama.
Construction works for the two locations will span 48 months and 36 months, respectively.
In a press statement, GNCB said the group had previously won a RM777 million Rumah Idaman contract from Menteri Besar Selangor Incorporated in July last year to construct 4,319 units of affordable homes in Bukit Jelutong and Almina West, Shah Alam.
With the latest wins, the GNCB group’s total wins for the year stand at RM482 million. It has a current outstanding orderbook of RM1.7 billion. — Bernama
