Kerjaya Prospek wins RM135mil contract to build a 31-storey apartment building for BBCC

Feb 03, 2023

Key takeaway: As an innovative, cutting-edge integrated development, Kuala Lumpur's Bukit Bintang City Centre (BBCC) project on Jalan Hang Tuah/Jalan Pudu is getting prominence.

The project's owner, BBCC Development Sdn Bhd, has awarded a contract worth RM135.4 million to Kerjaya Bina BMK Sdn Bhd, a subsidiary that is 49% owned by Kerjaya Prospek Group Berhad (KBB).

In a stock exchange filing made yesterday (Feb. 2), Kerjaya Prospek indicated that KBB had accepted a letter of award (LoA) from BBCC Development for the design and building of a 31-storey service apartment tower, basement, and podium, which includes seven levels for parking, the main lobby, and a multi-purpose hall.

The project is expected to start on March 1st, 2023, and will run for 36 months.

Kerjaya Prospek group CEO and executive director Tee Eng Tiong said, "The new contract awarded serves as a testament to our proven track record and ability to consistently secure and deliver contracts from our clients despite the challenging macro environment."

The LoA from BBCC Development, according to Tee, is the company's first deal of the year.

According to him, the order book for the company has expanded to RM4.3 billion, providing profitability visibility over the upcoming five years.

UDA Holdings Berhad, Eco World Development Group Berhad, and the Employees Provident Fund Board are partners in the joint venture project known as BBCC.

The 7.85ha, which is situated at the site of the former Pudu Prison, has a gross development value of RM8.7 billion.

Since its establishment in 2016, BBCC has achieved a number of firsts, including the first joint venture with Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop The Mitsui Shopping Park Lalaport, as well as the establishment of the Malaysia Grand Bazaar, Zepp KL Concert Hall, and numerous other amenities that will transform inner-city living, working, retail, and entertainment in the central of Kuala Lumpur.