Lagenda to undertaken new housing development in Perak

Lagenda Properties Bhd, formerly known as DBE Gurney Resources Bhd is building more affordable housing projects in Perak to meet demand.

The developer will be undertaking a new affordable housing project with a gross development value of RM295 million in Tapah.

The project will be developed across 92.97 hectares of vacant land owned by MajuPerak Holdings Bhd in Mukim Batang Padang.

The site is strategically located near developed areas like Bandar Baru Tapah and Universiti Teknologi MARA’s Seri Iskandar campus.

The project comprises 1,374 single-storey terrace houses, 264 double-storey shophouses, and an office building.

The houses will be priced from RM152,000 to RM172,000 per unit and the shophouses from RM284,000 to RM299,000 each. Lagenda may target Malaysian home buyers that fall into the B40 and the M40 income groups.

The project is a joint venture (JV) development with Tenaga Danawa Sdn Bhd (TDSB), a subsidiary of MajuPerak, and is targeted to commence early next year.

The expected year of completion is 2026.

In a statement, Lagenda said that its wholly-owned subsidiary Taraf Nusantara Sdn Bhd (TNSB) has signed the JV agreement with TDSB.

TDSB will construct the office building and procure the state approval to relocate its government agency offices to the new premises once it is completed.

Lagenda managing director Datuk Jimmy Doh Jee Ming said that the company strongly believes with the relocation of the government agency offices, it will further enhance the potential and demand for both its development projects in Tapah.

According to the company’s website, its current two major affordable housing township projects are Bandar Baru Setia Awan Perdana in Sitiawan, and Lagenda Teluk Intan in Teluk Intan, which has a combined development area of about 800ha and 20,000 affordable homes.

Doh said that its two development projects strongly reflect the existing demand for affordable housing among consumers despite the challenging times.

“We look forward to working with Majuperak and hope to be involved in more affordable housing projects in near future,” he added.

MajuPerak group chief executive officer Nizran Noordin said leveraging on TDSB’s expertise in the affordable housing segment, coupled with TNSB’s solid track record in developing large-scale housing projects, the partnership is a testament to its ongoing efforts to contribute to the development of the state.

“We are optimistic about the outlook ahead, particularly in the property segment over the long-term, in tandem with the nation’s economic recovery from the impact of COVID-19,” he said.

Source: NST