The new RM13.11 billion price tag for the underground portion excludes interest during construction, land acquisition costs and other costs, according to the MoF.

The outlook for the construction sector remains challenging as the federal government is reviewing ongoing infrastructure projects to reduce costs by 20%-33%.

In a filing with Bursa Malaysia yesterday, Gamuda said the Housing Development Board of Singapore had accepted the tender by its wholly-owned subsidiary Gamuda (Singapore) Pte Ltd jointly with Evia Real Estate Pte Ltd.

Similarly, in its latest township development Gamuda Cove, the upcoming development’s master plan shows a meticulous integration of commercial, residential and leisure components with nature.

Master plan focuses on self-sustainability, good connectivity, green living in a dynamic urban setting.

"We definitely need more clarity on the mega projects and the works in Penang. Hopefully, with the budget announcement, there will be some guidance on the direction that the government wants to take."

In a statement to Bursa Malaysia today, Gamuda said Singapore's Housing & Development Board (HDB) had on Friday (Sept 14) announced the provisional tender results, after the tender closed on that day. 

Launched in 2016, this Green Mark-certified private condominium has a gross development value of S$690 million (RM2 billion).

The selling price for the terraced houses will be from RM680,000 onwards while the apartment units will be priced from  RM350,000.

Inspired, Gamuda Land has embodied the oriental art in its 338-acre township called Jade Hills in Kajang, Selangor. The low-density neighbourhood balances premium residences with a lush greenscape complemented by tranquil lakes and gentle hills.