Haily Group Bhd has secured a RM53.8 million construction contract for a residential project in the Taman Mutiara Maju township of Johor Bahru.

The contract, awarded by Tasek Maju Realty Sdn Bhd, involves the construction of 170 double-storey cluster houses.

Haily’s wholly-owned subsidiary, Haily Construction Sdn Bhd, received the letter of award on June 26, 2023, marking it as the fourth major project secured by the group this year.

With this new contract, Haily’s ongoing projects now have a total contract value of RM713.56 million.

The residential units, each measuring 32′ x 70′, will be situated in Phase 3 of Taman Mutiara Maju, located in the Mukim of Pulai, Johor Bahru.

The construction is scheduled to commence on August 17, 2023, and is expected to be completed within 15 months by November 17, 2024.

Haily Group founder and ED, See Tin Hai, SAID There are many reasons to be optimistic about the long-term outlook for property development and the construction industry in Johor. 

“Johor will continue to be a beneficiary of key infrastructure projects, such as the Rapid Transit System (RTS) link, which is expected to be completed in 2026. And this year, prominent developers have announced new projects in Johor with gross development value (GDV) totalling more than RM1 billion,” he said.

So far this year, See said the group has secured total contracts worth RM204.48 million.

Haily Group shares saw no change today at 36 sen, translating to a market capitalisation of RM64 million. –TMR