Vizione Holdings Bhd bagged a RM63.7 million contract to build 410 low-cost walk-up housing units in Lahad Datu, Sabah, reported The Sun Daily.
This comes after its fully-owned unit Vizione Construction Sdn Bhd (VCSB) received a letter of award (LoA) to undertake the subcontract works for the People's Housing Programme from Permata Rebana Sdn Bhd.
The contract will see VCSB supplying labour, material, equipment and tools to carry out design, construction and delivery of the 410 housing units.
VCSB will also undertake the main building works (except earthworks) including architecture, the structure as well as electrical and mechanical works complete with landscaping, ancillary building and infrastructural works.
The 26-month contract, which commenced in Q1 2017, has a total cost of RM61.02 million and an estimated gross profit margin of 4.2 percent.
Aside from expanding its future construction activities, the contract will also contribute positively to the group's financial performance. It also opens up new opportunities for the group in Sabah, said Vizione.
Vizione intends to finance the award through internally generated funds and rights issue proceeds.
Among other affordable projects around Malaysia are:
1. Rumah Selangorku CyberSouth, Dengkil 2. Tamarind Suites, Cyberjaya 3. Sky Awani Residence 2, Sentul