4/09/2025

PROPERTY THURSDAY | SEP 4, 2025

12

Radium radiates cautious optimism on local market

Gagasan Nadi Cergas plans 15,000 affordable homes by 2033

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

o Developer balances project launches, healthcare milestones and green innovation to reinforce long term growth

location where the necessary infrastructure is readily available and falls within a TOD (Transit-Oriented Development) zone. It is well-served by public transport including the LRT Ampang Line Cempaka Station, which is approximately 350m from the plot, and RapidKL buses. “Premised on these factors, we believe the development will contribute positively to our future earnings,” said Gan. As for Cheras (Velodrome), Gan said the planned launch will be in 2H’26 by phases, with expected contribution starting from financial year 2027. The development is strategically located within the mature neighbourhood of Jalan Cheras, offering a good mix of residential, commercial, healthcare, and educational developments, along with excellent accessibility and connectivity via a network of expressways and highways. Located approximately 100m from the Taman Pertama MRT station, the project lies within a TOD zone, enhancing its marketability and appeal to both investors and owner-occupiers. “Based on these factors, we are optimistic this development will be well received and enjoy a good take-up rate,” he said. On the OUG project, Gan said with a potential GDV of RM2.4 billion, this development is planned for a phased launch in the second half of 2026, with contributions expected to begin from the financial year 2027. Spanning 26.8 acres, the project will comprise a mix of open market units and affordable housing under the Residensi Wilayah and Residensi Madani schemes. Beyond property development, Radium remains committed to its sustainability and corporate social responsibility (CSR) agenda. “Among our ongoing initiatives are the TARC–Radium Care Student Loan, an ongoing collaboration with Tunku Abdul Rahman University of Management and Technology (TAR UMT), initiated in December 2023, to support the higher education aspirations of deserving Malaysian students. “We signed an MoU with GreenRE in November 2024, allowing Radium to adopt sustainable design and green certification standards in our projects. This supports our long-term goal of reducing carbon footprints while delivering value to homeowners, financiers, and the public,” Gan said. In 2024, Radium also constructed a solar powered covered walkway connecting the Taman Melati LRT station to the TAR UMT campus.

SHAH ALAM: Gagasan Nadi Cergas Bhd plans to deliver 15,000 affordable housing units over the next eight years, with a total GDV of RM4.1 billion. Chairman Dr Muhamad Fuad Abdullah said the projects will generate revenue from property development while ensuring a steady pipeline of work for the group’s construction division. “This will allow the group to profit from both segments,“ he said at the key handover ceremony for the Idaman Bukit Jelutong condominium recently. Muhamad Fuad said the 1,260 units at Idaman Bukit Jelutong represent the first tranche of this pipeline. “With construction as our core strength, Gagasan Nadi Cergas is leveraging its design and-build expertise to expand significantly in affordable housing development through collaboration with PNSB,” he added. Besides Idaman Bukit Jelutong, Gagasan Nadi Cergas is also developing seven other Idaman affordable housing projects in partnership with Permodalan Negeri Selangor Bhd (PNSB) – Idaman Kwasa Damansara R4-1, R4-2, and R4-2A in Kwasa Damansara; Idaman Amani, Idaman Elmina 5, and Idaman Elmina 12 in the City of Elmina; and Idaman Rimbayu in Bandar Rimbayu. On Aug 8, Gagasan Nadi Cergas Bhd and PNSB delivered vacant possession to the homeowners of 1,260 affordable housing units at Idaman Bukit Jelutong. The condominium project developed by Gagasan Nadi Cergas in partnership with PNSB, a subsidiary of Menteri Besar Selangor Incorporated, as the strategic partner, is an initiative by the Selangor state government to effectively address housing affordability in the state. PNSB CEO Raja Ahmad Shahrir Iskandar Raja Salim said its continued collaboration with Gagasan Nadi Cergas Bhd in the Rumah Idaman initiative reflects shared vision to facilitate home ownership for Selangorians while creating a sustainable living environment for all Rumah Idaman homeowners. “PNSB is committed to implementing Rumah Idaman projects in other strategic areas including Gombak, Klang, Kuala Selangor, and Petaling districts. With the support of the state government and all parties, we are confident that more Selangorians will be able to own comfortable and high-quality homes.” The Rumah Idaman Bukit Jelutong project began construction in August 2022 and was completed in July 2025. Each unit has a minimum built-up of 1,000 sq ft and is priced at a fixed RM250,000 for the B40 and M40 groups. Buyers were selected through the Selangor Housing and Property Board.

Ű BY JOHN GILBERT sunbiz@thesundaily.com

KUALA LUMPUR: Property developer Radium Development Bhd remains cautiously optimistic on the domestic property market outlook, particularly in the Klang Valley, and will focus on expanding its landbank in prime locations. Group managing director Datuk Gary Gan Kah Siong said the company will also embark on diversifying into complementary sectors, maintain a strong balance sheet, and develop innovative, high-quality projects that meet evolving market demands. Gan said construction work for Radium Hospital @ Ayer Keroh (currently known as A Famosa Specialist Hospital) is targeted to commence in Q3’25. The company’s healthcare arm Radium Healthcare is also making pivotal milestones in its expansion into the healthcare sector through its participation in the APHM International Healthcare Conference & Exhibition 2025. “Through this platform, Radium Healthcare presented its upcoming development plans and strengthened collaborations with hospitals and healthcare stakeholders nationwide. “We also intend to establish collaborations with local academic institutions,“ Gan said. Touching on the ongoing and upcoming projects, Gan said for Radium Adesa Kuala Lumpur, the project has achieved a high take up rate, with almost all units fully taken up. “We have just launched Luxe Residences, the signature collection within Radium Adesa Kuala Lumpur. It is a refined canvas where thoughtful design, privacy, and elegance come together in perfect harmony,” said Gan. As for Radium Arena @ Old Klang Road, Gan said the take-up rate is encouraging and healthy since its launch in November 2024. Touching on Chancery Ampang Soho, Gan said the project has recently relaunched as the first high-rise in Kuala Lumpur to feature a dedicated 10,000 sq ft pet-friendly lifestyle

Beyond homes, Radium is shaping vibrant, connected communities that mirror the evolving lifestyles of modern Malaysians. park, reflecting the changing priorities of urban Malaysians who seek flexibility, wellness, and a sense of community in their homes. “To help buyers experience this new vision for city living, we have invested in a fully revamped sales gallery with updated show units showcasing the flexible layouts, modern interiors, and innovative amenities that define Chancery Ampang Soho today. “We intend to launch our next project in Kepong, consisting of condominium and Residensi Wilayah units, with a total estimated GDV of RM400 million. The target launch is in Q4 this year,” he said. Gan said this joint venture with Kadar Jutajaya in Kepong has a GDV of RM400 million, and Radium is targeting to launch it in 2H’25. The development sits on 5.31 acres of land and will consist of 558 condominium units (ranging from 950 sq ft to 1,250 sq ft) and 239 Residensi Wilayah units (800 sq ft). Radium’s five-year GDV pipeline will be underpinned by this Kepong project, as well as developments in Cheras, Ampang, and OUG. Elaborating on new developments in Cheras (RM2.54 billion GDV) and Ampang (RM470 million GDV), Gan said the Ampang (Pandan Indah) project is slated to be launched in 1H’26, with expected contribution starting from financial year 2026. This development is situated in a strategic

JLand partners Far East Consortium, Mayland for cross-border projects PETALING JAYA: JLand Group (JLG), the real estate and infrastructure arm of Johor Corporation (JCorp), has signed strategic framework agreements with Far East Consortium Australia (FEC) and Malaysia Land Properties (Mayland) to explore development opportunities in Australia and Malaysia. The signing ceremony took place recently in Perth. 2025 including population growth, economic resilience, constrained housing supply, and buoyant rental demand across cities in Australia. This builds on JLG’s earlier entry into a residential development in Brisbane and represents the next phase of JLG’s sequenced multi-market strategy – expanding into catalytic precincts that are not only investment-ready but also designed to enrich human experience and create real value for communities. timed land activation. “These potential collaborations reflect the disciplined, strategic approach we’ve taken in expanding our footprint across key urban markets,” said JLand Group managing director Datuk Akmal Ahmad. “From our base in Johor to transformative precincts in Australia, we remain focused on developing places that are not only commercially sound but socially meaningful and environmentally resilient.” potential partnership with JLand Group reflects a shared commitment to creating developments that meet local needs and deliver social and economic benefits to both the community and broader society. Malaysia Land Properties (Mayland)

managing director Datuk Kevin Woo said they look forward to their joint venture development within JLG-owned lands in Johor Bahru where they can leverage and synergise their expertise with JLG to become a relevant and significant property player in the Southern region. “We are indeed hopeful that Mayland would be able to contribute and partake in the tremendous growth of the Johor Special Economic Zone”, he added.

The framework agreement with FEC allows both parties to explore partnerships on potential mixed-use developments, including Purpose Built Student Accommodation (PBSA) in Australian major cities. This initiative is well-timed to capitalise on the strong property market fundamentals in

He added their collaborations with FEC and Mayland represent more than joint ventures – they are a convergence of shared values and purposeful ambition to build communities and ecosystems that matter. FEC executive director Craig Williams said the

While the FEC partnership deepens JLG’s presence in Australia, the collaboration with Mayland – one of Malaysia’s developers and part of the broader Far East Organisation (International) Ltd network – reinforces JLG’s strategy to scale domestic value through well

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