KUALA LUMPUR: Daya Materials Bhd has secured a contract to undertake a property project in Penampang, Sabah with a gross development cost of RM120mil.
It said on Tuesday its unit had signed an MoU with Chang Cheng Realty Sdn Bhd to build one block of 28-storey retail service suites and also 40 blocks of four-story shop-office and eight blocks of three-story shops.
Daya Materials said the RM120mil comprised of the total construction cost and interest. However, the estimated gross development value was more than twice at RM250mil.
By The Star