KUALA LUMPUR: Property developer Titijaya Land Bhd
’s wholly owned subsidiary, NPO Builders Sdn Bhd has entered into a consortium agreement with PNSB Construction Sdn Bhd (PCSB) to undertake an affordable housing project in Selangor.
PCSB is a wholly owned subsidiary of Permodalan Negeri Selangor Bhd (PNSB).
Titijaya said in a joint statement today that the strategic collaboration, operating under the name "Consortium of PNSB Construction-NPO” aims to undertake the development of affordable housing with a gross development value (GDV) of RM343 million under the Rumah Idaman programme.
"The consortium combines PCSB’s strategic capabilities at the state level with NPO Builders’ expertise in property development.
"Its primary focus is to deliver high-quality affordable homes, supporting the Selangor government’s ongoing efforts and aspirations to expand homeownership opportunities among the people,” it said.
Under the programme, Titijaya Land said the development will be undertaken on a strategic 5.26-hectare land parcel and will comprise 1,202 residential units.
Commenting on the agreement, Titijaya Land group managing director Datuk Lim Poh Yit said the collaboration is in line with the group’s aspiration to contribute to community development through the provision of quality homes at affordable prices.
"With NPO Builders’ extensive experience in project management, we are confident that this Rumah Idaman development will further strengthen access to homeownership in Selangor,” he said.
Meanwhile, PNSB chief executive officer Raja Ahmad Shahrir Iskandar Raja Salim said the company is confident of optimising the implementation timeline for the Rumah Idaman project by combining PCSB’s strengths in regulatory facilitation with NPO Builders’ technical expertise.
"PNSB remains focused on ensuring affordability does not come at the expense of construction quality, and this consortium is founded on the principles of mutual goodwill and shared benefits,” he added. - Bernama
