MajuPerak, Lagenda in Tapah project
Their subsidiaries team up for affordable mixed development with GDV of about RM295 million
PETALING JAYA: MajuPerak Holdings Bhd via its subsidiary Tenaga Danawa Sdn Bhd yesterday entered into a joint venture and shareholders agreement with Lagenda Properties Bhd’s wholly owned subsidiary Taraf Nusantara Sdn Bhd to undertake an affordable mixed development project in Tapah, Perak, with an estimated gross development value of RM295 million.
Located in Mukim Batang Padang, the mixed project on the 229.73-acre site marks MajuPerak’s maiden foray to develop its own landbank in partnership with an experienced property developer. It entails the development of 1,374 units of single-storey terrace houses, 264 units of double-storey shop houses, as well as a plot for various amenities for the residents such as petrol stations, hypermarkets and offices for government agencies.
The houses are priced at RM152,000 to RM172,000 a unit and the shop houses at
RM284,000 to RM299,000 a unit. MHB together with its JV partner via the special purpose vehicle company will jointly develop and manage the project entirely.
MajuPerak group CEO Nizran Noordin said it stands by its mandate to develop affordable homes in Perak. Leveraging on Tenaga Danawa’s expertise in this segment coupled with Taraf Nusantara’s track record in developing large-scale housing projects, this partnership is testament to its ongoing efforts to contribute to the development of the state and to benefit the people of Perak.
“We are optimistic on the outlook ahead particularly in the property segment over the long-term, in tandem with the nation’s economic recovery from the impact of Covid19.”
The development is targeted to commence early next year and is aimed for completion in 2026.