This article first appeared in The Edge Financial Daily, on July 28, 2016.
KUALA LUMPUR: Kerjaya Prospek Group Bhd has clinched a contract worth RM338.8 million for the main building works of the Arte Mont Kiara — a proposed mixed development in Mont Kiara via a joint venture between Nusmetro Property Sdn Bhd and Naza TTDI Sdn Bhd (Nusmetro-Naza TTDI JV).
In a filing with Bursa Malaysia yesterday, Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd had accepted a letter of award from Nusmetro Property for the proposed job.
This confirmed a report by theedgemarkets.com earlier yesterday, which stated that the Nusmetro-Naza TTDI JV was set to award Kerjaya Prospek a contract worth over RM300 million to build the Arte Mont Kiara serviced apartments.
Kerjaya Prospek said construction works are scheduled to commence in September, with completion in October 2019. The main building works comprise simplex and duplex serviced suites and serviced residences housed within three towers that range from 58-66 storey each, and a nine-storey podium car park.
“The contract will further increase and enhance the existing order book of the company and its group of companies,” it added.
In a separate statement, Kerjaya Prospek said Arte Mont Kiara has a gross development value of RM1.2 billion. The French-retro themed project is located within Naza TTDI’s Kuala Lumpur Metropolis development, which is envisioned to be an international trade and exhibition city.
With the latest win, Kerjaya Prospek has secured contracts worth RM1.43 billion year-to-date, surpassing its internal order book replenishment target of RM600 million for 2016.
This follows a RM213.75 million construction contract it won from Yong Tai Bhd last week. The contract was for the construction of main building works of a proposed mixed development project, known as “The Apple” in Melaka.
In May, BCB Bhd appointed Kerjaya Prospek to undertake main building works for Phase 1 of The Elysia Park Residence project in Iskandar Malaysia, Johor, valued at RM312.85 million.
Shares in Kerjaya Prospek closed down one sen or 0.41% at RM2.42 yesterday, giving it a market value of RM1.23 billion.