SELANGOR, 19 January 2022 – MGB Berhad (“MGB” or the “Group”) (a subsidiary of LBS Bina Group Berhad), a construction and property development solution provider, is pleased to have received overwhelming bookings for its Rumah Selangorku Idaman BSP (“Idaman BSP”), which is part of the Rumah Selangorku Idaman MBI project. Following the launch of Idaman BSP, MGB has received more than 100% in bookings for its 1,312 units.
Idaman BSP, which is part of the Rumah Selangorku Idaman MBI project, is situated in the fast-growing Bandar Saujana Putra township with easy accessibility to towns and cities such as Cyberjaya, Kota Kemuning and Puchong and major highways. MGB targets to complete the development of Idaman BSP by 2023.
The Rumah Selangorku Idaman MBI project itself is an initiative launched by the state government of Selangor to deliver 30,000 affordable houses to qualifying citizens. Under this initiative, Malaysians aged 18 years and above with a household income between RM3,001 – RM10,000 per month and a first-time home buyer in Selangor may apply. This project consists of high-rise residential homes starting from RM250,000, with 3 bedrooms and 2 bathrooms and a minimum built-up size of 1,000 sq ft per unit. The unit also comes with 2 carparks, 3 air-conditioners, a television set, television and kitchen cabinets, 3 wardrobes, a refrigerator and 2 water heaters.
To recap, MGB entered into a joint venture with PNSB Construction Sdn. Bhd. (“PCSB”) in mid-2019 to form PCSB-MGB Consortium with the aim of building 7,210 Rumah Selangorku Idaman MBI affordable homes in strategic infrastructure locations. These affordable homes will be built by using MGB’s in-house Industrialised Building System (“IBS”) pre-cast technology.
MGB Group Executive Vice Chairman Tan Sri Dato’ Sri Lim Hock San said, “Idaman BSP is MGB’s first of the 6 Rumah Selangorku Idaman MBI related launches. We are determined to solve the affordable housing issue and contribute our IBS expertise to ensure that the Selangor public will have the opportunity to become a homeowner.
We are on track to launch the 5 remaining Rumah Selangorku Idaman MBI related projects by the end of 2022 / early 2023. Being part of this Rumah Selangorku Idaman MBI project will provide stable revenue to the Group, in which we hope will allow us to enhance shareholder value.”
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