Encorp: Full completion by 2023
ENCORP Bhd is hopeful that its Encorp Cahaya Alam township in Seksyen 7, Shah Alam, will be fully completed by 2023, says group chief operating officer, Mohd Ibrahim Masrukin. Ibrahim said the township development, which began in 2004, is currently about 70 per cent completed.
The remaining gross development value (GDV) for the 84.6ha township is RM323 million, he told NST Property.
Encorp Cahaya Alam has increased its residential offering with the launch of “Clover” homes, a new lakeside luxury enclave featuring 143 units of two-storey link homes with RM113 million in GDV.
Measuring 22’ by 75’ with built-ups from 2,357 sq ft, the four-bedroom modern-design homes feature dual frontage.
“We are excited to launch our new exclusive enclave, ‘Clover’. Encorp Cahaya Alam’s maturing township, coupled with the surrounding facilities and amenities, will provide Clover residents with the best of serene living in a private enclave and a vibrant community at your doorstep.
Construction is expected to begin in August this year, with completion targeted for July 2021.
Encorp has also fulfilled its obligation to include
affordable housing in the township development.
Its majority-owned subsidiary, Must Ehsan Development Sdn Bhd, recently signed a Development Rights Agreement with the PCSB-MGB consortium to jointly build Rumah Idaman homes at the township.
The consortium is a joint venture between PNSB Construction Sdn Bhd and MGB Bhd (a subsidiary of LBS Bina Group Bhd) while Encorp’s joint-venture partner in Must Ehsan is Selangor State Development Corp (PKNS).
The collaboration agreement was witnessed by Selangor Mentri Besar Amirudin Shari, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali and Housing and Local Government Minister Zuraida Kamaruddin.
The event was also attended by LBS and MGB group managing director Tan Sri Lim Hock San.
Under the agreement, Must Ehsan is providing 6.7ha in its Encorp Cahaya Alam township to build 1,800 units of affordable apartments with GDV of RM450 million.
The Rumah Idaman homes are called Idaman Cahaya.
Ibrahim said this venture would add vibrancy to the township, adding that all 1,800 units are expected to be launched at one go — targeted by year-end.
“Currently, the project is going through approvals with the authorities. Work is expected to commence by year-end. We are targeting to complete the 1,800 units in three years,” he said.
The houses, with a built-up of 1,000 sq ft, will be priced at RM250,000 each.
Each unit has three bedrooms and two bathrooms and are equipped with wardrobes, kitchen cabinets, refrigerator, television, air conditioners and water heaters.
The collaboration is part of the Selangor government’s initiatives to improve access to affordable housing, with the goal of producing 30,000 affordable houses by 2025.
The first Rumah Idaman project — Idaman Abadi in Bandar Teknologi Kajang, was launched in April this year.
Amirudin said owning a home can be out of reach for many people with housing affordability being a major issue. “With Rumah Idaman, we will be able to deliver more quality affordable housing options to help low- and middle-income families in Selangor to have a roof over their heads.”
Meanwhile, Lim said LBS shares the government’s passion to ensure housing is made affordable and attainable to every Malaysian.
“With our combined experiences in developing quality residential and commercial developments, we are confident of delivering quality ‘Rumah Idaman’ homes that will raise the benchmark for affordable housing in Selangor.”