KUALA LUMPUR (Aug 17): Kerjaya Prospek Group Bhd wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has been awarded a contract worth RM442 million for the main building works of a proposed development project from Aspen Vision City Sdn Bhd, a joint venture company of Aspen Group and IKEA Southeast.

The project known as Vertu Resort is the first high rise urban resort-inspired residential development in Aspen Vision City in Penang. 

It will feature a host of resort style facilities and amenities across 200,000 sq ft of space.

Kerjaya’s executive chairman Datuk Tee Eng Ho said this is the group's biggest project award for this year.

“This is our first project with Aspen Group and I would like to thank them for giving us the opportunity to be part of such an iconic project in Penang.

“We are looking forward to the commencement of work and delivering this project according to the high standards that Kerjaya Prospek is known for,” he said in a statement today.

The project will comprise five condominium blocks ranging from 20-storeys to 36-storeys, consisting of 1,246 units of condominiums, to be built above an 8-storey car park podium, with one storey above the car park for community recreational facilities on Plot 10 Fasa 4.

In addition to that, the construction works will take about 38 months from its scheduled commencement on Sept 4, 2017, and is targeted for completion by Nov 4, 2020.

This project is Kerjaya’s sixth contract award for the year and brings the year-to-date contract wins to RM868 million.

Following this contact award, its current outstanding orderbook stands at an impressive RM2.9 billion.

At the midday break today, Kerjaya's shares were up nine sen or 2.54% to RM3.64, with 1.07 million shares traded, for a market capitalisation of RM1.99 billion.