MGB Berhad project offers units from RM250,000
WITH the rapid development seen over the years, it comes as no surprise that Selangor is fast becoming one of Malaysia’s sought-after states to reside in.
While a populous state brings about several advantages, namely increased human capital and thus higher economies of scale, it makes the entry for those who wish to call Selangor “home” more challenging day by day.
Understanding the ever-growing demand for affordable housing and in support of Lembaga Perumahan dan Hartanah Selangor (LPHS) and Permodalan Negeri Selangor Berhad (PNSB), MGB Berhad is developing the Rumah Idaman MBI – an ambitious affordable housing project that aims to provide comfortable homes for the people.
PNSB is a Selangor government subsidiary under Menteri Besar Selangor (Incorporated), while MGB is the construction arm of LBS Bina Group Berhad.
The Rumah Idaman MBI project aims to address the acute shortage of affordable housing in Malaysia, particularly for the B40/lower-income and M40/middle-income segments of society.
MGB is set to build 30,000 affordable homes by 2025. The project is progressing well, with a significant number of units sold and high registered interest seen in the upcoming phases.
It comprises several residential developments, with Rumah Idaman being the flagship project. There will be 7,210 units with a total value of RM2bil, which are with prices starting from RM250,000 per unit. The project’s affordability makes it an attractive option for homebuyers, particularly the B40 and M40.
Idaman BSP, one of the sub-developments under the Rumah Idaman MBI project, comprises 1,312 units, and is already 100% booked. The overwhelming response to this sub-development speaks volumes about the need for affordable housing.
In October 2022, Idaman Melur, which comprises 1,448 units, saw 60% of the units booked, with 900 orders to purchase received to date.
The upcoming launches of Idaman Perdana, Idaman Sari and Idaman KITA are expected to generate strong interest from potential buyers. The units in these developments are priced from RM250,000, and buyers will get several amenities, including two parking lots, a TV set, TV cabinet, kitchen cabinets and refrigerator, built-in cupboards, water heaters, and air conditioners.
MGB’s track record
MGB Berhad, as the primary engineering and the official construction arm of LBS Bina, has a stellar track record of delivering high-quality projects.
The company’s capabilities are extensive, and it can cover every aspect of building a house – from design to construction, including mechanical and electrical services, civil and structural engineering solutions, and infrastructure.
MGB is a contractor with developers’ capabilities, which gives the company a significant advantage in delivering projects on time and within budget.
The company’s financial capabilities are also noteworthy. MGB can finance its own projects, and has an excellent network of bankers. This financial strength provides MGB with the ability to undertake large-scale projects such as Idaman.
One of the key advantages of Rumah Idaman is the use of the IBS precast system in construction.
Heavy investment has been put into the IBS system, and upgrades to the IBS factory has enabled MGB to increase its capacity to 6,000 IBS units annually. This is in line with LBS’s goal to be a leading housing solution provider via its IBS system.
The IBS precast system involves building houses panel by panel from the factory, similar to building with building blocks. The precast system is faster and produces less waste, making it more cost-efficient and sustainable.
The use of the same design for each Rumah Idaman unit also provides a time advantage, making the construction process more efficient whilst retaining a quality build.
Strategic locations
The Rumah Idaman developments in Selangor are built in strategic locations close to amenities, making them highly attractive to potential homebuyers.
The developments’ locations provide easy access to schools, shopping centres, healthcare facilities, and other essential services, which is a critical consideration for homebuyers.
Support for government goal
The Idaman project’s overarching aim is to support the government’s goal to provide affordable housing for the masses.
The project’s affordable pricing structure makes the homes accessible to B40 and M40 buyers, who are often excluded from the housing market due to the high prices.
MGB’s commitment to support the government in providing housing at affordable prices underscores the company’s social responsibility.
The Rumah Idaman project is a game-changer in the Malaysian affordable housing market. The project’s strategic location, affordability, and use of innovative construction methods make it highly attractive to potential homebuyers, particularly the B40 and M40 segments.
MGB’s proven capabilities and financial strength provide the company with a significant advantage in delivering the project on time and within budget.
With the Idaman project, MGB is setting an example for other property developers to follow in addressing the country’s affordable housing crisis, so that owning a home can be a reality.
Learn more about MGB Rumah Idaman here: https://mgbgroup.com.my/our-expertise/rumah-idaman/, and take a virtual tour of the Rumah Idaman here: https://properly.com.my/3dtour/idaman-vr/
This article was published in TheStar, 28 February 2023.