KERJAYA Prospek Group Bhd has been awarded a RM162 million building contract by Majestic Gen Sdn Bhd for the construction of a 47-storey serviced apartment development in Johor Bahru.
The project, known as Gen Rise, is located near the CIQ complex and Bukit Chagar Rapid Transit System (RTS).
It will comprise 732 residential units, nine levels of podium parking, and supporting facilities. Construction is scheduled to begin on August 1, 2025, with completion expected within 36 months.
Kerjaya’s CEO and ED Tee Eng Tiong said this marks the group’s first contract win in Johor for 2025.
“Geographically, our focus remains on three growth regions, namely Klang Valley, Penang and Johor, where we see strong demand and vibrant development activities,” he said.
“With this latest RM162.0 million job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year. Our total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and a solid foundation for continued growth over the next four financial years,” he added.
Majestic Gen CEO Datuk Sr. Hoo Kim See added that the partnership is expected to boost market confidence in Majestic Gen’s ongoing and future developments, which carry an estimated gross development value of RM3.7 billion. — TMR
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