Fajarbaru group executive chairman Tan Sri Chan Kong Choy.
PETALING JAYA: Fajarbaru Builder Group Bhd
has received a letter of award from WCT Holdings Bhd worth RM246.1mil to undertake the second phase development of AdisonWest located in Larkinton, Johor Baru.
In a statement, the turnkey contractor and property developer said its wholly-owned subsidiary, Fajarbaru Builder Sdn Bhd, secured the contract from WCT Construction Sdn Bhd, an indirect subsidiary of WCT Holdings.
“This contract involves the construction of four serviced apartment towers in Johor Baru, recreational facilities and amenities as well as a six-storey podium featuring car parks, commercial lots, and a lobby.
“The construction project, expected to be completed in 36 months, will be delivered in 2027.
“Inclusive of the first phase which was also awarded to Fajarbaru in April 2024, this brings the total to eight serviced apartment towers which consist of 1,024 units for the first phase and 896 units for the second phase.”
Following the award of this contract, Fajarbaru’s order book stands at RM1.23bil and will provide the group with earnings visibility until 2027.
In the same statement, Fajarbaru group executive chairman Tan Sri Chan Kong Choy said: “We are happy to announce that Phase 1 of the project has been progressing very well, which has led to the award of Phase 2 from WCT Holdings.
“We are thrilled to take on Phase 2, which underscores Fajarbaru’s commitment to delivering high-quality projects.”
He said this achievement reinforced the group’s reputation as a trusted partner in the construction sector.
“With a steady flow of projects and a positive outlook for the industry, Fajarbaru is well-positioned to meet the increasing demands of the market.”
Earlier this week, the group announced that it had accepted a letter of offer from state-owned Penang Development Corp to develop MediCity in Batu Kawan, Penang.
The project, which consists of two parcels of land, is planned for development on the freehold land of some 235.81 acres in Bandar Cassia, Mukim 13 in Batu Kawan.
Fajarbaru will fund and undertake the development of Parcel 1 land measuring 51.17 acres after purchasing it in 2025.
Plans are for the Parcel 1 land to be developed into an urban enclave that integrates health and medical facilities with residential, retail and commercial components.It will consist of a 200-bedded specialist hospital and other components that are related to health and medical sectors that will be identified later on – these will make up 30% of the total area of the Parcel 1 land.
The company said the remaining 35.8 acres of the Parcel 1 land shall be used for mixed development of residential and commercial components; and infrastructure construction.
The future possibility of purchasing the Parcel 2 land is subject to the market conditions and performance of the Parcel 1 development, it said.
Fajarbaru’s property development portfolio extends across both Malaysia and Australia. In Malaysia, the Group’s first property development, Rica Residence @ Sentul, was completed in 2021.
Following this, the group introduced Vierra Residence @ Kinrara, KL developed under the affordable housing initiative “Residensi Wilayah Keluarga Malaysia,” Desa Green, the first integrated township in Kuala Krai, Kelantan Kelantan as well as a purpose built centralised labour quarters located at Senawang, Negri Sembilan.
In Australia, the group has undertaken projects such as Gardenhill, Paragon, and The Wilds, all located in Melbourne.
