Nestcon secures RM161 million job for Gombak serviced apartments
The project involves a 36-storey building, with a construction period of 34 months and a 30-month defect liability period.
B.U. Developments Sdn Bhd has awarded Nestcon Bhd a RM161 million construction job for serviced apartments in Selangor. The 36-storey building will be located in Bandar Baru Ulu Kelang, Gombak, according to Nestcon’s filing with Bursa Malaysia.
Nestcon said the award was accepted on Nov 6 by Nestcon Builders Sdn Bhd, which it wholly owns. The subsidiary will undertake the development’s main building works.
Work started on Nov 2. The agreement provides 34 months for construction, measured from commencement, followed by a defect liability period lasting 30 months from the date recorded in the certificate of practical completion.
For the duration of construction, Nestcon expects a positive contribution from the contract to its gearing, earnings per share and net assets per share.
