KUALA LUMPUR – IJM Corporation Bhd’s wholly owned subsidiary, IJM Construction Sdn Bhd, has bagged a RM314.8 million contract from Laksana Positif Sdn Bhd for the construction of a 34-storey hotel and office tower at The Light City in Gelugor, Penang.
Laksana Positif is a wholly owned subsidiary of IJM Perennial Development Sdn Bhd, it said in a statement today.
IJM said construction work is scheduled to commence in January 2021 and to be completed within 45 months in October 2024.
The project comprises a 500-room luxurious four-star hotel and 90 office suites in various built-up sizes and layout options with a net lettable area of 166,000 sq ft.
“The appointment of IJM Construction is a testament to our strategy of delivering world-class, high-quality developments as well as an acknowledgement of our expertise and capabilities as a builder,” IJM chief executive officer and managing director Liew Hau Seng said.
In addition, he said with the hotel and office tower contract win, IJM Construction’s outstanding order book stood at around RM5.4 billion, comprising a good mix of private and public sector projects.
The Light City is part of Phase 2 of The Light Waterfront Penang. It consists of a mixed development project spanning across 4.1 million sq ft with an estimated total gross development value of RM4.5 billion. – Bernama, November 24, 2020
