KUALA LUMPUR: Kerjaya Prospek Group Bhd's unit, Kerjaya Prospek (M) Sdn Bhd, has secured an RM710.1 million contract from Nikmat Merpati Sdn Bhd for the construction of the main building and external works of a residential development project.
Kerjaya Prospek accepted a letter of award (LoA) for the development of Astrum Ampang, a 2.73ha transit-oriented development (TOD) located near Jalan Jelatek and Jalan Ampang, Selangor.
The project has a gross development value (GDV) of RM1.6 billion, entailing six blocks, consisting of a mixture of 5,255 small office home office (SOHO) units, apartments and retail spaces.
Chief executive officer and executive director Tee Eng Tiong said the latest contract not only marked a significant milestone for the group but also represented the largest ever contract to win from an external party in its corporate history.
"It serves as a testament to our proven track record and ability to secure sizeable contracts from our clients," he said.
Tee said the company would continue to leverage its core expertise to secure new projects.
"As the nation begins to recover from the adverse impacts of Covid-19, we remain optimistic of achieving our contract wins target of RM1.2 billion in FY22," said Tee.
Astrum Ampang is set to enrich residents with its seamless connectivity, made apparent by the 150-metre covered walkway linking the development to Jelatek LRT Station.
It is also one stop away from Setiawangsa station, which will connect to the upcoming MRT3 line.
Along with this contract award, Kerjaya Prospek's outstanding order book is bolstered to RM4.1 billion, which will sustain the company's earnings over the next five years.
Setia Awan Central Region executive director Ng Teck Hua said the company's strategic collaboration with Kerjaya Prospek signified a great synergy, which would benefit Astrum Ampang.
"As a reputable public-listed main contractor, Kerjaya Prospek is known for its quality workmanship, cutting edge construction technology and an impressive portfolio spanning many years in the construction industry.
"This collaboration will further strengthen Setia Awan's unique DNA of delivering value-driven, quality, innovative and sustainable property development products to homebuyers," he added.
The project by Setia Awan is expected to be completed 53 months from its commencement date in June 2022.