KUALA LUMPUR, Jan 13 -- Kerjaya Prospek Group has secured a RM617 million contract to develop an apartment project known as VIVO and VIIO within Aspen Vision City in Seberang Perai, Penang.
Its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd accepted the letter of award from Aspen Vision City Sdn Bhd, an indirect subsidiary of Aspen (Group) Holdings Ltd and joint-venture company between the Aspen group and IKEA Southeast Asia, it said in a statement today.
Kerjaya Prospek, which was known as GSB Group Bhd before its name change last week, said construction of the project's first phase, VIVO, worth RM365 million, will take 38 months from the scheduled start on Feb 14, 2020.
To be completed by April 2023, the phase entails piling, pile cap works and main building works for the development of 1,530 executive apartments, 14 units of shops, car park podium and common facilities.
The second phase, VIIO, which is valued at RM252 million, involves piling, pile cap works and main building works for the development of 980 executive apartments, nine units of shops, car parking podium and common facilities.
VIIO is expected to be completed within 36 months from a date yet to be determined, the company said.
Meanwhile, Kerjaya Prospek executive chairman Datuk Tee Eng Ho said the contract award demonstrated the company’s growing reputation as a contractor of choice in delivering high quality projects on time without compromising on safety.
“I am excited for the coming years ahead as we seek to deliver earnings growth with our outstanding order book of approximately RM3.5 billion to-date.
“The group will continue to aggressively tender for new works and expects positive outcomes from these tendering activities in due course,” he said.