PETALING JAYA: MGB Construction & Engineering Sdn Bhd (MGBCE), a wholly-owned unit of MGB Bhd
, has been awarded an affordable housing development contract worth RM118.5mil from Uda Accord Development Sdn Bhd.
The project is located on Lot 20017, Section 93, Jalan Jubilee, Kuala Lumpur, and would involve building one block of 45-storey Residensi Wilayah housing 702 units, one block of seven-storey podium car park, one floor for amenities and one guard house.
Work for the contract is slated to begin on Nov 13 and is expected to take up to 30 months, to be completed by May 12, 2028.
In a statement to Bursa Malaysia, MGB said the contract enhances its existing order book, bringing the group’s current outstanding to approximately RM1.25bil.
“The contract will have no effect on the issued share capital of the company but it is expected to contribute positively to the earnings and net assets per share of the company and the group over the duration of the contract,” it added.
