Damansara Realty gets RM467.3m PPA1M project in Putrajaya

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KUALA LUMPUR (Nov 30): Damansara Realty Bhd has secured the contract for the proposed development of Perumahan Penjawat Awam 1Malaysia (PPA1M) and the commercial part of a mixed development at Presint 5, Putrajaya, which carries a total estimated gross development cost of RM467.31 million.

In a filing with Bursa Malaysia today, the property developer said Putrajaya Corporation (PJC) awarded the job to its wholly-owned subsidiary, Damansara Realty (Johor) Sdn Bhd, via a letter of award dated today.

Damansara Realty said it was tasked to construct 1,350 PPA1M units (675 units of 1,000 sq ft and 675 units of 1,200 sq ft) and 45 units of six-storey shop offices.

The contract is for a period of 30 months.

The property developer said the contract is expected to contribute positively to its earnings for the financial period ending Dec 31, 2016 (FY16) and beyond.

Shares in Damansara Realty closed three sen or 3.49% higher at 89 sen today, for a market capitalisation of RM264.51 million.

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