BON ESTATES INKS RM291m “MAIN-CON” DEAL WITH KERJAYA PROSPEK
Work on Bon Estate Sdn Bhd’s RM650 million luxury residential project, The Estate in South Bangsar, is expected to gain pace now that the company has secured a strategic partnership with reputable construction firm Kerjaya Prospek (M) Sdn Bhd.
A RM291 million deal was inked between the two parties in an official ceremony held at the Bon Estates Gallery in Bangsar yesterday, appointing Kerjaya Prospek as the main contractor tasked with executing the super structure of the development.
A premium boutique developer, Bon Estates views the appointment as a “key milestone” for the construction of its flagship project.
The company’s managing director Goh Soo Sing said Kerjaya Prospek brings with it a solid reputation and an impressive track record as a builder of high-end properties. It has a portfolio that includes projects with renowned names in the development industry as well as experience in a variety of projects in Malaysia.
Kerjaya Prospek was also recently included in the Forbes Asia’s Best Under A Billion (“USD”) 2017 list and awarded Gold Award (construction category) with the title “Highest returns to shareholders over three years” with The Edge Billion Ringgit Club 2017.
“In seeking a partner for The Estate, we naturally looked at entities that could keep within costing and timeline parameters as well as abide by the high quality standards envisioned for the project. The opportunity to work with Kerjaya Prospek was particularly appealing because the synergy in our common outlook towards build quality standards,” said Goh.
Specifically, Goh pointed out Kerjaya Prospek’s adoption of QLASSIC standards, which is in line with Bon Estates’ own vision to build The Estate in accordance to QLASSIC standards.
He said “quality” is one of the hallmark promises of The Estate, which aims to be a 100-year home that offers timeless appeal, enduring value and an address that owners would be proud to pass on to the next generation.
“I believe the selection of Kerjaya Prospek with such a strong reputation in quality delivery provides an important foundation to achieve this and provides a great deal of confidence as we move forward with our ambitions for The Estate,” said Goh.
The new construction deal with Bon Estates brings the total outstanding orderbook of Kerjaya Prospek to RM3.15 billion. It also marks Kerjaya Prospek’s seventh contract award for the year, bringing the year-to-date contract wins to RM1.16 billion.
Commenting on the strategic partnership with Bon Estates, Kerjaya’s Executive Chairman, Datuk Tee Eng Ho said, “This is our first project with Bon Estates and I would like to thank them for giving us the opportunity to be part of their flagship project”.
“We are looking forward to the commencement of work and delivering this project according to the high standards that Kerjaya Prospek is known for. I am excited for the coming years as we seek to deliver earnings growth by executing the various projects in our RM3.15 billion outstanding orderbook,” Tee added.
Launched this year, The Estate is a 328 unit upscale residential high-rise development that offers spacious homes designed with the family in mind. Taking shape on 3.68 acres of rare freehold land in the sought-after Bangsar South locale, the project features two 45-storey towers that will play host to four- and five-plus-one bedroom units that range between 2,346sq ft and 3,474sq ft in size.
The project is value-enhanced with the inclusion of energy-efficient design, lasting building materials and its advantageous location – offering the greenery of the Bukit Gasing forest reserve as well as easy urban connectivity via South Bangsar’s central location.