Kerjaya Prospek wins RM223m Johor Bahru SOHO contract

PETALING JAYA (Aug 13): Kerjaya Prospek Group Bhd has secured a RM223 million contract from Sunway Majestic Sdn Bhd for main building works at a 1,012-unit small office/home office (SOHO) development in Johor Bahru.

In a Bursa Malaysia filing, the construction group said its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd had accepted the letter of award on Aug 12. The letter, dated and received on Aug 10, covers a fixed-lump-sum contract for works at Lot 4460, Jalan Yahya Awal, Bandar Johor Bahru, Johor.

The development will comprise two 34-storey SOHO blocks containing 540 and 472 units respectively, as well as 10 levels of podium parking, two levels of mezzanine commercial space and two levels of facilities.

Construction is scheduled to commence on Sept 1, 2026, and is to be completed within 32 months.

Kerjaya Prospek said the contract is expected to provide an additional revenue stream over the next three years and contribute positively to the group’s earnings and net assets per share for the financial years ending 2026 to 2029.

2026 contract wins reach RM2.4 bil

In a separate press release, Kerjaya Prospek said the contract is its ninth new win in 2026 and its third new contract win in Johor Bahru since 2025.

The latest award brings the group’s year-to-date new contract wins for the financial year ending Dec 31, 2026 (FY2026) to RM2.4 billion, exceeding its initial RM2 billion target for the year. Its outstanding order book stands at RM5 billion, according to the group.

Kerjaya Prospek CEO and executive director Tee Eng Tiong said the latest contract further expands the group’s presence in Johor Bahru city centre, which he said is poised to benefit from the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link.

..........

Read about data, insights and solutions for an evolving market in EdgeProp print. Subscribe now for your free copy!