PETALING JAYA: Nestcon Bhd has landed a RM74.5mil contract for the construction of a 28-storey affordable apartment in Shah Alam, Selangor.

In a statement, Nestcon said its wholly owned subsidiary, Nestcon Builders Sdn Bhd had accepted a letter of award (LoA) from Exsim MX4 Sdn Bhd yesterday.

The project is expected to be completed over a 29-month period from the commencement date to Jan 2, 2029.

It also carries a 27-month defect liability period from the date stated in the Certificate of Practical Completion.

Nestcon said the project will be carried out in accordance with the supplementary terms and conditions set out in the LoA.

Nestcon noted the project is expected to contribute positively to its net assets per share, earnings per share and gearing throughout the construction period. It added that it does not foresee any exceptional risk other than the normal operational risks associated with the project.

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