Putrajaya Perdana clinches RM408m Ara Damansara property project

PETALING JAYA: Putrajaya Perdana Bhd has bagged a RM408 million contract for the construction of a residential project in Ara Damansara, Petaling Jaya.

In a statement yesterday, Putrajaya Perdana said its wholly owned subsidiary Putra Perdana Construction Sdn Bhd (PPC) received the award from Sime Darby Ara Damansara Development Sdn Bhd to build the Cantara Residences project on 7.12 acres of land.

The contract involves the construction of 17-floor buildings comprising 756 units of serviced apartments in total.

The construction work is expected to take about 30 months to complete with target completion date set in May 2019. It is expected to contribute positively to the financial performance of Putrajaya Perdana.

“With this RM408 million contract, we are confident (with our current order book) that we can maintain a positive performance for the group in the coming financial years,” said PPC CEO Goh Ceah Chuang.

The latest Cantara Residences project award brings the total projects secured in 2016 by PPC to about RM765 million.

As at Oct 31, 2016, PPC’s outstanding order book and tender book stood at about RM1.25 billion and RM1.93 billion respectively. It is also working on submitting tenders for about RM6 billion worth of contracts.