Kerjaya Prospek secures RM162mil Johor contract for 47-storey project
KUALA LUMPUR: Kerjaya Prospek Group Bhd's subsidiary Kerjaya Prospek (M) Sdn Bhd has secured a RM162 million building contract in Johor Baru from Majestic Gen Sdn Bhd, its first contract win in the state for 2025.
The contract involves main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development located near the customs, immigration and quarantine (CIQ) and Bukit Chagar rapid transit system (RTS).
The project comprises a single block with 732 units, nine levels of podium parking and other supporting facilities, amongst others.
Construction, scheduled to commence on Aug 1 this year, is expected to be completed within 36 months.
Kerjaya chief executive officer and executive director Tee Eng Tiong said the company's focus remains on three growth regions, namely Klang Valley, Penang and Johor, where strong demand and vibrant development activities continue to shape the future of urban living.
"With this latest job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year.
"Total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and solid foundation for continued growth over the next four financial years," he said in a statement.
Majestic Gen chief executive officer Datuk Hoo Kim See expressed confidence that the collaboration will further strengthen market trust in the company's ongoing and upcoming developments, which have a combined estimated gross development value of RM3.7 billion.
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