Vestland secures RM157 mil apartment project in KL

• The contract, which is the first win for the company in 2025, was awarded by Mercu Majuniaga Sdn Bhd.

KUALA LUMPUR (May 29): Construction outfit Vestland Bhd (KL:VLB) on Thursday secured a RM156.91 million contract to undertake the construction of a 51-storey serviced apartment block in Kuala Lumpur.

The contract, which is the first win for the company in 2025, was awarded by Mercu Majuniaga Sdn Bhd, said Vestland in a bourse filing.

Work at the site located in Lorong Raja Uda 2 is scheduled to be completed within 26 months, by July 31, 2027.

Vestland said the contract is anticipated to positively contribute to the company’s earnings and net assets during the contract period.

Shares in Vestland closed one sen or 2.27% lower to 43 sen on Thursday, valuing the ACE Market company at RM406.05 million. The counter has dropped over 23% year-to-date.

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