Gamuda Bhd has entered into a deal to swap its 15-acre land in Klang, Selangor to build affordable housing for middle-income households.
The deal will help Gamuda make a water retention pond on the land with its wholly-owned subsidiary, Bandar Botanic.
"Harum Intisari has submitted a retention pond proposal on a plot of land within Bandar Botanic to the Selangor state government for its consideration and approval," said a media source.
Xavier Jayakumar, State Executive Counsellor of Selangor, confirmed the deal and the plan is intended to ease the flooding problem within the residential estate of Taman Sentosa, Klang.
"An empty piece of land in Klang, which has already been converted for development is about RM50 psf. In that place (land given up by Gamuda), where the infrastructure has already been built, it can fetch as much as RM70 psf," said one consultant.
"The developer will help to build a pond, but the state will provide certain pre-approved conditions," added Xavier.
"The 15-acre plot zoned for low-cost has now been redesignated for the building of the pond, with the rest allowed for affordable housing."
Meanwhile, Datuk Seri Chor Chee Heung, Housing and Local Government Minister, revealed that 42,078 units would be built in 20 locations across Seremban, Rawang and Klang Valley, with each unit costing between RM150,000 and RM300,000.
"The government still has large tracks of land not used and has handed the land to the private sector to build affordable houses for the middle income group," he said.
He added that the federal government has pushed for building low cost houses for households earning less than RM2,500 a month.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.
Search Property News
Browse News By Category
July 2012 Property News
- Najib announces task force to oversee Tun Razak Exchange
- Apartments at Sky Peak Residences now 90% sold
- YTL opens Gaya Island Resort off Sabah
- Protest held for heritage building preservation
- Hua Yang to contribute to Johor's economic growth
- Bangkok prime property prices growing fastest globally
- Malaysia's Smart Village - A global model for poverty alleviation
- 373 units of Parc Regency - Dove Tower (D) launched
- KLIFD to reshape Malaysia's financial setting
- Johor gets new township with GDV of RM3 billion