Kuala Lumpur, May 3 – Pelaburan Hartanah Bhd has awarded a RM62.4 million contract to Ikhmas Jaya Group Bhd to carry out earthworks and piling for the first phase of a mixed-use development project in Kuala Terengganu, including a shopping mall and 10-storey car park.
In a filing with Bursa Malaysia, the piling specialist said the work was expected to be completed within a year from May 9.
It was reported that the six-storey mall, to be named Mayang Mall, would be completed in 2020 and have Sogo as its anchor tenant.
Year to date, the group has secured to a total orderbook replenishment value of RM144.7mil, Ikhmas Jaya said in a press statement.
Ikhmas Jaya said the mixed development comprises six floors of a shopping complex, one floor of basement and 10 floors of parking lots at Lot PT 4286, Bandar, Daerah Kuala Terengganu, Terengganu.
The project is expected to contribute positively to its earnings and net assets for the financial years ending Dec 31, 2017 and 2018, said Ikhmas Jaya.