Gunung Capital, Majuperak to develop affordable homes worth RM3 billion

KUALA LUMPUR: Gunung Capital Bhd (GCB) has inked a memorandum of understanding (MoU) with Majuperak Bina Sdn Bhd (MBSB) for to develop affordable homes and other infrastructure related projects in Perak.

As part of the collaboration, the first venture by GCB and MBSB would be the development of 15,000 units of affordable homes in Perak, priced at around RM200,000 per unit.

GCB executive director Tan Sri Dr Ali bin Hamsa said the company is currently developing numerous small-hydropower projects in Perak, together with Menteri Besar Incorporated.

“This collaboration with MBSB is to further capitalise on GCB’s construction and development expertise with a state

government-linked company that has an extensive land bank,” he said in a statement today.

MBSB is an indirect wholly-owned subsidiary of Majuperak Holdings Bhd, a company majority-owned by the Perak state government.

Perak state government’s target to build 50,000 units for the bottom 40 per cent population (B40) under the Rumah Perakku programme has only been partially fulfilled, with a shortfall of 15,000 units.

Rumah Perakku is an affordable housing programme managed and run by the state’s Housing and Property Board as well as Perak State Development Corporation.

MBSB has been tasked to address the affordable housing shortfall in Perak.

“We applaud the ongoing state government’s initiatives to address the shortage of affordable homes in Perak, and the flourishing construction and property development activities will help overcome the housing unit shortage as well as spur the growth of allied industries and jobs creation,” Dr Ali said.

Source: NST