Kerjaya Prospek Group has secured a contract worth MYR617m ($151m) from Aspen Group for the construction of a luxury residential project in Penang, Malaysia.
To be located in Seberang Perai Selatan, Pulau Pinang, the executive apartments will sit within the 245-acre Aspen Vision City, an intelligent and sustainable metropolis. Aspen Vision City is a joint venture between Aspen Group and IKEA Southeast Asia.
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The apartments will have full access to world-class amenities and international communities, where it will neighbour the first IKEA in the Northern Region and a regional integrated shopping centre, anchored by IKEA.
The project will be built in two phases. The first phase of Vivo, worth MYR365m ($89.6m) and will include piling, pile cap works and main building works to build three blocks of 48-storey, 1,530 executive apartments, nine-storey podium car parks, community recreational facilities and shop lots.
The construction is expected to take 36 months of time. Scheduled to begin this February, the construction is slated for completion in April 2023.
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The second phase, dubbed Viio, is valued at MYR252m ($61.9m). It will include piling, pile cap works and main building works to build 980 executive apartments, nine units of shops, car parking podium and common facilities. Time needed to build the second phase is also 36 months, from the date of commencement, which is yet to be determined.
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By GlobalDataThe executive apartments have been divided into two types. Type A will include three towers, A, B and C. Each apartment will feature two bedrooms and one study room with 730ft² of area. Type B will also include three towers A, B and C and will feature three bedrooms with 830ft² of area.
Kerjaya Prospek Group executive chairman Datuk Tee Eng Ho said: “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.
“This (contract) again demonstrates Kerjaya’s growing reputation as a contractor of choice in delivering high quality projects on time without compromising on safety.
“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.”
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Image: Kerjaya selected to build apartments at Aspen Vision City in Malaysia. (Credit: Pixabay/Photo Mix)
