Binastra Builders has secured a letter of award for the construction of a residential development in Kuala Lumpur, Malaysia. 

The contract, valued at RM369.95m ($78.40m), was awarded by Exsim Jalil Link. 

It entails main building works and infrastructure for blocks of suite apartments, totalling 1,558 residential units. 

The project is expected to be completed within 41 months from the commencement date, to be determined by the architect's instruction.  

The development will take place on part of Lot 38628, Jalan Jalil Perkasa 1, an affluent suburb in Kuala Lumpur.

The scope of the contract includes the construction of three blocks, with Block A standing at 39 storeys and housing 460 units, Block B at 38 storeys with 506 units, and Block C at 39 storeys with 592 units.  

The contract further covers the construction of a shop on the site's ground floor and two commercial spaces.

Additionally, the contract includes eight levels of podium parking, a utility space on the lower ground floor, facilities for residents, and a guardhouse. 

Binastra Builders' directors said: “The acceptance of the contract is in the best interest of the company.” 

The contract is expected to contribute positively to the company's earnings for the financial years ending 31 January 2025 to 2028.

This award comes after the announcement of the company's name change, from Comintel Corporation to Binastra Corporation, earlier this month.