Fajarbaru secures RM108m high-rise development contract from Malton

KUALA LUMPUR (Aug 24): Fajarbaru Bulider Group Bhd has secured a RM108.03 million contract from Malton Bhd to develop the second phase of the Duta Park Residences high-rise residential project along Jalan Kuching.

The two-year contract is for the second phase of the project, the group said in a stock exchange filing. The first phase, awarded in June last year, was worth RM297.5 million.

The proposed high-rise development comprises three tower blocks: 46-storey Tower A, 49-storey Tower B, and 30-storey Tower C encompassing 536, 572 and 268 units respectively.

They are constructed on top of a three-level basement car park and a 10-level podium car park and facilities.

Shares of Fajarbaru closed 3.5 sen or 8.05% higher at 47 sen today, valuing the group at RM175.72 million. Year-to-date, the counter has risen 30.56%.

EdgeProp Malaysia Virtual Property Expo 2020 (VPEX 2020) is happening now! Find out more exclusive projects and exciting deals here

Stay safe. Keep updated on the latest news at www.EdgeProp.my 

Click here for more property stories.