Kerjaya Prospek Group Berhad via its wholly-owned subsidiary, has secured a RM488.4 million contract for the construction of the second marina-edge residence, AVÉA, at Andaman Island, Penang.
The contract involves the execution and completion of the two-phase development comprising two 46-storey serviced apartment towers with a total of 1,080 residential units, together with basement parking, podium parking facilities, commercial space and recreational amenities, amongst others. Construction is scheduled to commence on 1 July 2026 and is targeted for completion within 42 months.
The contracts was awarded by Persada Mentari Sdn. Bhd., an indirect subsidiary company of Eastern & Oriental Berhad (“E&O”), and was undertaken on an arm’s length basis, based on commercial terms which are not more favourable than those generally available to the public. E&O is a company in which certain major shareholders of Kerjaya have direct and indirect interests.
