The award is for the proposed earthworks under Phase 1 of the Lifestyle Quarter of the Tun Razak Exchange mixed development. The scope of works consists of earthworks, rock probing and grouting works.

Overall, the average distribution per unit (DPU) for six REIT stocks under our coverage grew by 4.7% y-o-y.

With this smallish contract in the bag, Mudajaya’s year-to-date (YTD) job wins stand at RM533 million.

It is worth noting that properties in some areas have not seen growth in value for at least two consecutive quarters.

The landscape in Seri Kembangan is fairly diverse, with most of the high-rises catering for the middle to lower-middle segment.

The gated Ferringhi Residence, to be developed in three phases, is a freehold development comprising low-rise condo villas and high-rise resort condos on 61 acres of elevated land in Batu Ferringhi.

In terms of YTD new contracts, Kimlun has clinched RM554 million worth of new contracts, which is on track with our full-year new contracts assumption of RM700 million.

Feringghi Residence is a freehold development that comprises low-rise condo villas and high-rise resort condos on 61 acres (24.68ha) of elevated land in Batu Feringghi. The gated development is to be developed in three phases. The parcel of land was bought in 2010, and is strategically located along the famed Batu Feringghi tourist belt and 1km away from Hard Rock Hotel Penang.

There are plenty of upmarket properties with views over the lakes of Mines Resort City.

Analysis of the secondary market in Seri Kembangan reveals that prices have appreciated across most properties.