Johor bahru: Binastra Corporation Bhd’s wholly owned subsidiary Binastra Builders Sdn Bhd has accepted a contract worth RM132.0 million from Exsim Lumba Kuda Sdn Bhd for a property development project in Johor.

According to BERNAMA News Agency, the contract encompasses earthworks, piling, pile cap, and diaphragm wall works for a proposed 63-storey serviced apartment development, Causewayz Square @ JBCC, in Johor Bahru. The development will comprise a total of 4,525 units across four residential towers. The construction is scheduled to commence on September 2, 2025, with a targeted completion period of 16 months.

Binastra Corporation’s managing director, Datuk Jackson Tan Kak Seng, stated that the group has secured four contract awards in Johor Bahru to date. These include two main building works and two substructure and piling works across three major property developments, amounting to a total value of RM628.8 million. The group is also actively seeking opportunities to participate in related main building works, which could potentially deliver over 11,000 residential units, including future phases.

Tan noted that this achievement demonstrates Binastra’s capabilities in addressing the housing demand in the southern region. With this recent contract, Binastra’s year-to-date contract awards have increased to RM1.5 billion, raising its total outstanding order book to RM4.5 billion.