SHAH ALAM: PCSB-MGB Consortium, a consortium of PNSB Construction Sdn Bhd and MGB Bhd, has signed a development right agreement with the Selangor government to build 1,800 units of affordable homes at the price of RM250,000 per unit for the Idaman Cahaya development in Encorp Cahaya Alam.
The consortium is collaborating with Must Ehsan Development Sdn Bhd, a joint venture between Encorp Bhd and the Selangor State Development Corp (PKNS).
Selangor Mentri Besar Amirudin Shari (pix), who witnessed the signing ceremony, said the Idaman Cahaya development is part of the state government’s pledge to build 30,000 affordable homes by 2025 in Selangor.
The proposed 1,800 housing units will be built over 16.56-acre land with an estimated gross development value of RM450 million.
Following the signing of the agreement, the property project is expected to be launched within the next three years.
Source: The Sun Daily