Gabungan AQRS Bhd (GBGAQRS) and PR1MA Corporation Malaysia will construct a residential project with a gross development value (GDV) estimated at RM335.95 million in Kuantan, Pahang.
The parties have signed a joint development agreement (JDA) for the 40.80-hectare development.
In a filing with Bursa Malaysia on November 16, GBGAQRS said it would develop the land, which belongs to PR1MA.
According to GBGAQRS, the project comprises building 1,065 single-storey terrace houses and single-storey semi-detached homes.
The project will begin in three stages and is anticipated to be completed 84 months after the project's start date.
There are 320 units in the first phase, 328 units in the second phase, and 417 units in the third phase.
The construction contract would be awarded to Monolight IBS Building System Sdn Bhd, GBGAQRS's wholly-owned subsidiary that it purchased in September 2017.
"The development would add synergy to the company's property and construction business and could contribute positively to both the property and construction division's financial performance," GBGAQRS said.