By THE EDGE
KUALA LUMPUR: A consortium comprising Bina Puri Holdings Bhd and SPK-Sentosa Corp Bhd unit Pembinaan SPK Sdn Bhd has secured a RM444 million contract for the development of a residential, commercial and recreational project in the United Arab Emirates.
In a statement on May 17, Bina Puri said it was awarded the contract from Al Tamouh Investments LLC for the development project at the Al Reem Island, Abu Dhabi that was scheduled to be completed by September 2009.
Bina Puri said the contract was expected to contribute positively to its earnings for the financial year ending Dec 31, 2007. It said the contract would be funded by internally-generated funds and bank borrowings.