“Sime Darby Property partners with Lagenda Properties to pioneer affordable homes in Gurun, Kedah, fostering broader homeownership access.”
KUALA LUMPUR, 25th Jan 2024 – Sime Darby Property Bhd, through its subsidiary Seed Homes Sdn Bhd, has entered into a 50:50 joint venture with Lagenda Properties Bhd to establish Seed Homes Lagenda, marking the company’s debut in the affordable township sector.
Seed Homes is a newly established portfolio under Sime Darby Property, focusing on innovative solutions in the affordable homes segment. The collaboration aims to commercially develop affordable homes, aligning with Sime Darby Property’s commitment to providing broader homeownership access. The inaugural project for Seed Homes Lagenda is set in Gurun, Kedah, covering a 249-acre land parcel acquired from Sime Darby Property. Positioned strategically, the project anticipates capitalizing on the potential industrial growth in Gurun, aiming to deliver over 3,000 affordable homes.
Datuk Azmir Merican, Sime Darby Property’s group managing director, emphasized that the joint venture reflects the company’s dedication to pursuing and delivering affordable homes, with a focus on creating value for individuals, businesses, economies, and the planet.
Seed Homes Lagenda’s strategic approach leverages the strengths of both companies to set a new standard in affordable housing. Lagenda Properties, with a successful track record of delivering over 10,000 affordable homes, brings its expertise in aligning with market preferences and needs. The collaboration aims to enhance impact and extend the reach to deliver affordable homes to a wider spectrum of Malaysians. The joint venture signifies a significant step towards fulfilling the shared commitment of both companies in providing accessible and innovative solutions in the affordable housing sector.