KUALA LUMPUR: Kerjaya Prospek Group Bhd’s 49%-owned associate company Kerjaya Bina BMK Sdn Bhd has accepted a RM153.5mil contract from BBCC Development Sdn Bhd for construction works of a proposed mixed development off Jalan Hang Tuah/Jalan Pudu, Kuala Lumpur.
It said in a filing with Bursa Malaysia that the development will comprise a 44-storey serviced apartment, a podium block with an eight-storey car park and a seven-level car park with three underground and four at basement levels.
Construction is expected to commence on April 15, and will take about 30 months to complete.
BBCC is the master developer of the Bukit Bintang City Centre development, a joint development by Eco World Development Group Bhd, UDA Holdings Bhd and the Employees Provident Fund.
“With the roll out of the vaccines, 2021 is expected to be a recovery year, for both property and construction sectors.
“The market is gradually recovering and there is pent up demand for properties backed by the low interest rate environment, ” said Kerjaya Prospek chairman Datuk Tee Eng Ho.
He added that the company will aggressively tender for more good quality projects and targets to launch two property projects in the second half of the year – Monterez Development and Yakin Land Development – with a combined gross development value of RM630mil.