KUALA LUMPUR: Binastra Corporation Bhd has secured its largest contract to date, following the acceptance of two letters of award, valued at RM1.2 billion, for the main building and infrastructure works of Causewayz Square, a landmark high-rise development in Johor Bahru.
The contracts were awarded to Binastra’s wholly-owned subsidiary, Binastra Builders Sdn Bhd, by Exsim Lumba Kuda Sdn Bhd.
It involves the construction of the 63-storey serviced apartment comprising 4 residential towers under the Causewayz Square master plan, with a total of 4,525 units.
The development, which is to be undertaken in five phases, will feature a multi-level podium with parking, retail offerings, and lifestyle amenities.
Construction works are expected to be completed within 34 months from the commencement date, which will be notified by the architect in due course.
Binastra Corporation managing director Datuk Jackson Tan Kak Seng said this contract win marks the largest contract secured by Binastra to date.
“It also reflects our strong foothold in Johor Bahru, a key growth market underpinned by resilient residential demand, improving connectivity and rising investor interest driven by developments across the southern corridor.
“As one of the early entrants into the Johor Bahru market, we are encouraged to see our long-term commitment translate into tangible outcomes. Supported by our dedicated Johor team, we remain confident in our ability to deliver such large-scale, complex high-rise developments with discipline and consistency.
“With this latest win, our total outstanding order book has expanded to a record RM5.8 billion, reflecting the scale of opportunities we are capturing as a trusted builder of choice,” he said in a statement.
These contracts are expected to contribute positively to the group’s earnings over the next three years.
To-date, Binastra Corporation has secured RM3.4 billion in new contract wins, placing it firmly on track to achieve its RM4.0 billion target for FY26.
