In two years time, Sarawak is set to see more affordable and medium-range houses as Naim Holdings targets to build 500 units.
With an estimated gross development value (GDV) of RM185mil, these residential homes would be constructed in Kuching, Miri and Bintulu where most of the Naim group’s landbank of about 1,560 acres are located.
The group intends to kickstart part of the proposed development in the fourth quarter of 2021, according to Naim managing director Datuk Hasmi Hasan.
Sarawak’s leading developer plans to uitilise part of the RM75mil to be allocated for working capital for property development activities from the proceeds of the proposed disposal of two parcels of land in Bintulu to fund the construction of the 500 units of new homes.
Naim, which is celebrating its 25th anniversary this year, has completed some 23,000 residential and commercial properties, mostly in Miri, Kuching, Kota Samarahan and Bintulu. The group’s single largest flagship development is the Permyjaya new township in Miri, which is now home to the oil city’s 20% population.
To mark the anniversary celebrations, Naim has come up with a “Super Deals” mega property promotion, offering discounts and rebates of 25% or more for selected residential and commercial properties across the group.