GDB Holdings Bhd said it will resume work on the 8 Conlay high-end condominium project after receiving partial payment.
In a stock exchange filing yesterday, GDB said its subsidiary, Grand Dynamic Builders Sdn Bhd (GDBSB), had lifted the suspension of works for the 8 Conlay project on Jan 9, 2023.
This was following Damai City Sdn Bhd (DCSB) — the project’s principal contractor — instruction issued to the architect for the forthcoming issuance of the Architect’s Instruction of the PAM Contract.
GDBSB will “remobilise and recommence” facade work for Tower A following the receipt of partial payment towards the outstanding sums, it added.
“The remobilisation and recommencement of construction work for the full scope of works under the 8 Conlay Project is scheduled for early April 2023, subject to the full settlement of the outstanding sums payable to GDBSB by DCSB,” it said.
On Aug 16, 2022, GDBSB served a suspension notice to DCSB over the project’s works.
DCSB is a wholly owned subsidiary of KSK Land Sdn Bhd, which in turn is a wholly owned unit of KSK Group Bhd, the developer of 8 Conlay.
GDBSB received an RM1.25 billion contract from DCSB in late 2020 to complete the mixed development project’s construction. — TMR / pic source: 8conlay.com