KUALA LUMPUR: Vizione Holdings Bhd rose in early trade after securing a project to develop affordable apartment units with a gross development value (GDV) of RM500mil.

       The integrated construction engineering group rose 3.85%, or 0.5 sen to 13.5 sen at 9.47am with 1.11 million shares done. Year-to-date, the counter tumbled about 66%.

       Vizione’s wholly-owned subsidiary Vizione Builder Sdn Bhd has secured a project with GDV of RM500mil to construct 2,500 affordable apartment units called “Residensi Prihatin” in Putrajaya.

       A development agreement was signed with Pan Sejati Development (M) Sdn Bhd to develop the project together with all the infrastructure services and a connecting bridge in the 7.27ha land registered under Perbadanan Putrajaya.

       Vizione said the project would comprise 2,500 strata units of affordable apartments together with infrastructure services, common facilities, common property and a connecting bridge.

       Vizione managing director Datuk Ng Aun Hooi said the project was the company's fifth in 2021 and came on the heels of its recent contract win in August.

       “We are confident this Residensi Prihatin development will sell well given it’s strategic location in Precinct 7, Putrajaya, a matured catchment of established residential and commercial areas,” he said.