Kerjaya Prospek’s wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award worth RM617 million from Aspen Vision City Sdn Bhd to develop a proposed apartment project known as “VIVO” and “VIIO” in Penang.

Aspen Vision City is an indirect subsidiary of Aspen (Group) Holdings Limited and joint venture company between Aspen Group and IKEA Southeast Asia.

In a statement, Kerjaya Prospek said the contract value represents half of its order book target of RM1.2 billion for the whole of FY2019.

Kerjaya’s executive chairman Datuk Tee Eng Ho said the contract demonstrates Kerjaya’s growing reputation as a contractor of choice in delivering high quality projects.

““We are off to a great start in 2020. Kerjaya has a long working history with Aspen and is proud to have been awarded this contract by Aspen, a reputable player in the property development industry, for our first contract for this year.

“I am excited for the coming years ahead as we seek to deliver earnings growth with our outstanding order book of approximately RM3.5 billion to-date. The Group will continue to aggressively tender for new works and expect positive outcomes from these tendering activities in due course,” he said

The project is situated in a prime location within Aspen Vision City, and is split into two phases.

The first phase “VIVO”, worth RM365 million, entails piling, pile cap works and main building works for the development of 1,530 executive apartments, 14 units of shops, car park podium and common facilities.

The construction works will take 38 months from its scheduled commencement on Feb 14 2020 and slated for completion by April 2023.

The second phase “VIIO”, worth RM252 million, entails piling, pile cap works and main building works for the development of 980 executive apartments, 9 units of shops, car parking podium and common facilities.

The construction works of VIIO shall be completed within 36 months from a commencement date which has yet to be determined.

Source: TheSunDaily.my