KUALA LUMPUR: Johor-based property developer Haily Group Bhd’s (HGB) cumulative ongoing projects have now exceeded RM1 billion in total contract value after bagging the latest contract win of RM89.90 million.
This significant milestone highlights HGB’s robust growth trajectory and strengthens its presence in Johor’s property development sector.
The new contract was awarded to the company’s wholly-owned subsidiary, Haily Construction Sdn Bhd (HCSB), by Mah Sing Group Bhd’s subsidiary, Venice View Development Sdn Bhd.
The contract is for constructing parcels 2A and 2B of Taman Tiara Indah in Johor Bahru.
The RM89.90 million project involves the development of 366 double-storey terrace houses, 2 show units, 2 Tenaga Nasional Bhd substations, and a guard house.
HGB founder and executive director See Tin Hai said the robust demand for high-quality residential properties in Johor aligns well with HGB’s vision, and the company looks forward to delivering a successful project that meets the highest standards.
HGB’s recent contract win brings the company’s total secured contract value for 2024 to approximately RM617.31 million, surpassing the RM272.14 million achieved in 2023.
With the addition of this RM89.90 million contract, HGB now has a portfolio of 27 ongoing projects valued at RM1.01 billion.
These projects are anticipated to be completed progressively between 2024 and 2026, supporting Haily’s growth prospects amid Malaysia’s positive construction sector outlook, which is projected to grow by 9.4% in 2025.
The project award is expected to contribute positively to HGB’s earnings for the financial years ending 2025 and 2026, further enhancing the company’s growth prospects and reinforcing its standing as one of the key players in Johor’s construction industry.
