Spring Gallery Bhd has secured a RM176mil construction job in Pulai, Johor to undertake a mixed development project including apartments and shop offices.
The ceramic products company said on Monday it had signed a managing contract agreement with Prinsip Nusantara Sdn Bhd to undertake the project on a 6.02 acre site.
Spring Gallery said the Johor State Tennis Academy was occupying the land and it would be relocated to Taman Nusa Duta, Johor Bahru.
The company would build a new State Tennis Academy together with a shooting range and multipurpose courts at Taman Nusa Duta as required by the State Government and also 18 three-storey shop offices and two blocks of 25-storey medium cost apartments.
Spring Gallery executive director Kuan Poh Huat said this project was the company’s first in Johor following its achievements in Terengganu.
“This project will also set to lead the company in spreading our wings in the southern state and many other states to come. With the recent developments in the company, we are confident that it will contribute positively to the profit earnings of the Group in the upcoming and subsequent financial years,” he said.
The development order is expected to be obtained in July 2016 and the completion date is 30 months from the execution date of the agreement.
“The agreement is in line with the group’s diversification into the construction business to provide another stream of revenue source to reduce the dependence on its existing business in ceramic segment,” Kuan said.