MGB bags RM118.5m contract for affordable apartments

• The job involves building the superstructure for a 45-storey apartment block, a seven-storey car park and amenities floors, and a guardhouse.

KUALA LUMPUR (Oct 28): MGB Bhd (KL:MGB) has secured a RM118.5 million contract to build affordable apartments in Kuala Lumpur from UDA Accord Development Sdn Bhd.

MGB's unit MGB Construction & Engineering Sdn Bhd accepted the contract for the development of Phase 2 Affordable Housing of Residensi Wilayah from UDA Accord Development. UDA Accord Development is a joint venture company affiliated with UDA Holdings Bhd, a company wholly owned by Malaysia’s Ministry of Finance through MOF Inc.

The Residensi Wilayah programme was formerly known as Rumah Wilayah Persekutuan or RUMAWIP. First introduced in 2013 by the Malaysian federal government, it aims to offer quality, affordable and strategically located homes to middle-income residents in the Federal Territories of Kuala Lumpur, Putrajaya, and Labuan.

The job involves building the superstructure for a 45-storey apartment block, a seven-storey car park and amenities floors, and a guardhouse. The 30-month job is to commence on Nov 13, 2025, with an expected completion date of May 12, 2028, the construction firm said in an exchange filing. 

The new contract bumps up MGB's outstanding order book to RM1.25 billion.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.