KUALA LUMPUR: Crest Builder Holdings Bhd has won a contract worth RM448.5 million from Sunway Velocity Three Sdn Bhd for the construction of the Sunway Velocity 3 commercial development (Plot A), located on Jalan Shahbandar, Kuala Lumpur. 

Its wholly owned subsidiary, Crest Builder Sdn Bhd, has accepted the Letter of Award from Sunway Velocity Three, a member of Sunway Group.

In a statement, Crest Builder said that the contract entails the construction of 1,604 units of serviced apartments in two 60-storey blocks.

The construction work will take about 43 months to complete from its scheduled site possession date of March 15, 2024, and is targeted to be completed by October 14, 2027.

Crest Builder said that with this latest contract, its outstanding order book now stands at about RM1.8 billion, providing earnings visibility for the next four years.

The company's group managing director, Eric Yong Shang Ming, said, "With our first contract for the year, I am confident that we will achieve our RM500 million order book replenishment target."