KUALA LUMPUR: Construction group Gagasan Nadi Cergas Bhd has accepted two letters of intent worth RM385mil from subsidiaries of Paramount Corp Bhd to undertake turnkey contracts of designing and developing high rise affordable homes in Selangor.
In a statement, it said they involved the construction of high rise residential projects of 2,005 units in two locations.
Construction works for 1,076 affordable homes in Greenwood Salak Perdana are scheduled to begin in the second quarter of 2022, while works for 929 units in Kemuning Utama will commenced in the fourth quarter of 2022. The projects will take 48 months and 36 months, respectively to be completed.
The group has a current outstanding orderbook of RM1.7bil.