Tall & Urban News

Developer Acquires Two Contracts in Kuala Lumpur

29 April 2021 | Kuala Lumpur, Malaysia

PETALING JAYA: IJM Corp Bhd has secured two contracts totalling RM327.6 million (US$79 million)  for construction works in Kuala Lumpur and Penang.

The group said its wholly-owned subsidiary, IJM Construction Sdn Bhd, had secured a RM89.8 million (US$21 million) contract for the construction of infrastructure building and public realms works at Tun Razak Exchange (TRX) in Kuala Lumpur.

IJM Construction also secured a RM237.8mil (US$57 million) job for the construction of the Mezzo residential tower at The Light City in Gelugor, Penang.

IJM Corp said the first contract was awarded by TRX master developer, TRX City Sdn Bhd, in March 2021.

It said the job will entail civil, structural and architectural works; mechanical and electrical services; both hardscape and softscape works; signages and wayfinding; as well as amenities in the international financial district.

“Work is expected to start immediately and be completed in 14 months. The project adds to IJM Construction’s current work in TRX, which include HSBC Malaysia and Affin Bank’s new headquarters as well as TRX Residences, ” said IJM Corp in a statement.

Meanwhile, the second contract for The Light City’s Mezzo residential tower includes the construction of a 34-story, 456-unit, high-end luxury condominium, said IJM Corp.

It said IJM Construction received the letter of acceptance this month from Jaringan Simfoni Sdn Bhd, a wholly-owned subsidiary of The Light City’s developer, IJM Perennial Development Sdn Bhd.

IJM Perennial is a joint venture between IJM Corp and Perennial Holdings Pte Ltd, a Singapore-based integrated real estate and healthcare company.

“Construction work is scheduled to commence in June this year and is expected to be completed within 42 months by November 2024, ” the company said.

IJM Corp added that the Mezzo contract win will add to IJM Construction’s growing footprint of projects in Penang.

“In March last year, IJM Construction was awarded a RM140 million (US$34 million) contract for the construction of a 24-story hotel with a 10-story podium for commercial lots and car park in Butterworth.

“In August 2020 the company secured a RM864.7 million (US$210 million) contract for the construction and development of The Waterfront Shoppes, an 11-story retail mall and the Penang Waterfront Convention Centre, followed by a RM314 million (US$766 million) contract for the construction of a 34-story hotel and office tower in November at The Light City.”

The Mezzo marks IJM Construction’s third project at The Light City.

IJM Corp chief executive officer and managing director Liew Hau Seng said Mezzo is the first residential component to be launched in The Light City.

“The landmark development is currently one of our biggest projects and a core focus for IJM as we look to apply the synergy we have as part of the wider IJM group, ” he said.

For more on this story, go to The Star.