Malaysian company Nestcon Builders has accepted a letter of award (LoA) for construction works for a mixed commercial development project.  

The contract, worth RM108m ($23.27m), has been awarded by Exsim Avenue. 

The 37-storey mixed commercial building will comprise 126-unit service apartments, retail shops, strata offices with 220 units, and car parks, as well as associated facilities. 

Nestcon will be responsible for the earthworks, piling works, primary building works, and infrastructure works. 

Contract work is scheduled to commence on 15 January 2024, and is expected to finish by 14 April 2027, spanning a total of 39 months. 

This timeline includes a defect liability period of 27 months following the issuance of the certificate of practical completion. 

The company has agreed to follow the additional terms and conditions mentioned in the LoA. 

Nestcon's board of directors said: “The board, after having considered all aspects of the LoA and the contract works, is of the opinion that the LoA and the contract works are within the ordinary course of business of Nestcon and the acceptance of the LoA is in the best interest of the company.” 

Nestcon Builders focuses on construction projects. 

Meanwhile, Exsim Avenue operates as a developer, builder, and contractor for various constructions, with a focus on building dwelling houses of all kinds. 

Earlier this month, Nestcon Builders accepted a LoA for the construction of a mixed-use development in Kuala Lumpur, Malaysia. 

The contract, valued at RM251.5m, has been commissioned by Altimas.