KUALA LUMPUR: Crest Builder Holdings Bhd 's unit Crest Builder Sdn Bhd has secured a RM192mil contract from Allevia Sdn Bhd for the construction of a condominium project in Mukim Batu, Kuala Lumpur.

       It said in a statement that the project involves the construction of a 45-storey condominium with 159 units and a 40-storey condominium with 135 units, as well as an underground carpark, carpark podium and recreational facility.

       It added the project will take about 35 months to complete from its scheduled commencement on Dec 1, 2021, to Oct 31, 2024.

       "This contract win is very timely, as we believe that building material prices have started to stabilise from the volatilities experienced in the past 18 months.

       "We will continue to stay vigilant and focus in delivering our projects on hand while continuing to tender for quality projects that can deliver value to our shareholders,” said Crest Builder group managing director Eric Yong.

       He added that this is the group's first construction contract secured in 2021 and the momentum is expected to continue with more construction contract wins before the year end.

       Crest Builder’s outstanding order book stands at about RM900mil, which it said will provide it with earnings visibility for the next three years.

       At market close, shares in Crest Builder were trading 4.5 sen or 7.69% higher at 63 sen apiece on the back of 2.63 million units exchanging hands.