KUALA LUMPUR: LFE Corp Bhd's 51 per cent owned unit, Cosmo Property Management Sdn Bhd has clinched a RM90 million contract from PD Ara Sdn Bhd to execute and complete a residential development project in Damansara.
In an exchange filing today, LFE Corp would develop one block of an 18-storey service apartment, consisting of 126 units, one block of 11-storey SOHO (129 units), with seven levels of commercial offices and medical centre and a five-level health trading podium comprising car park.
The contract work is for a period of about 36 months including the construction and completion of the project.
LFE Corp said the commencement date for the project would be notified by PD Ara in due course.
The contract is expected to contribute positively to the earnings and net assets per share of LFE Corp for the financial year ending December 31, 2021, and up to the expiry of the contract.