It was reported that Tuju Setia Bhd has secured a RM209mil contract to undertake main contractor works for Alora Residences, USJ, Subang Jaya, Selangor.
In a filing with Bursa Malaysia, Tuju Setia said its wholly-owned subsidiary, Pembinaan Tuju Setia Sdn Bhd, received the letter of award (LOA) from USJ Citypoint Sdn Bhd, an indirect wholly-owned subsidiary of Avaland Bhd.
The scope of work in the contract includes the construction of two blocks of service apartments, a podium carpark and a facilities floor.
The contract is for 33 months, with work tentatively scheduled to commence in the second quarter of 2024.
Alora Residences is the first phase of 2Fifth Avenue, a 13-acre integrated development worth RM3bil in gross development value.
In a statement, managing director Wee Eng Kong said: “We look forward to contributing to the early-stage development of the 2Fifth Avenue masterplan and to meeting Avaland’s green building objectives.”
He said the construction of Alora Residences will open doors for Tuju Setia, allowing the group to take on more “green” development projects from both new and existing clients in addition to being able to participate in future Avaland developments.
“This new win in the beginning of 2024 is a good start for Tuju Setia. With stable building material prices recently, property developers have been more inclined to advance bidding discussions for their upcoming projects. Hence, this positive outlook bodes well for us to secure new projects and improve our earnings,” Wee said.
