Fajarbaru Builder Group Bhd. has accepted the award from Penang Development Corporation for Phase 4 of the proposed Mixed Development of 25 Phases of Development at Seberang Perai Selatan, Penang.
In a statement released, the group said Phase 4 will comprise of 1 Block of 12 Storeys Medium Low-Cost Apartment (149 Units), 1 Block of 14 Storeys Medium Cost Apartment Type A (149 Units), 1 Block of 19 Storeys Medium Cost Apartment Type B (222 Units), 5 Units of Shop Lot (Lock Up Shop), and 1 Block of 2 Storeys Car & Motorcycle Parking.
The total contract sum for the project is estimated to be RM125.3 million, contract period will be for thirty-six months commencing 15 June 2023 and shall be completed on 14 June 2026.
The Contract is expected to contribute positively to the earnings and net assets of the Group from the financial years ending 30 June 2024 onwards.
