PWCC is a flagship component of The Light City, a major waterfront development along Penang’s eastern coastline.
This marks the fourth contract Kerjaya Prospek has secured since the beginning of the year, bringing its outstanding order book to over RM4.
Sales in its property segment rose 56% year-on-year to RM1.
Kerjaya Prospek (M) Sdn Bhd, had accepted a letter of award from TPDSB for the execution and completion of a Gurney pedestrian ramp, access to Gurney and all associated works at Bandar Tanjung Pinang, Pulau Andaman.
Northeast said the move aims to mitigate delays in its factory expansion caused by regulatory requirements.
Construction started in October 2023, and the hotel is scheduled to open in the first quarter of 2026.
The acquisition brings Hektar REIT’s portfolio to eight properties, which currently include shopping malls and an educational facility.
"I want to stress that the RM13 billion figure has not been finalised.
As the first Crowne Plaza in Penang, the 23-storey, five-star waterfront hotel features 343 rooms and suites, catering to increased business travel and foreign investment activity in the northern state.
The proposed disposal is expected to be completed in the second half of 2025.
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