KUALA LUMPUR (Dec 19): Construction company Vestland Bhd (KL:VLB) said on Thursday that it had secured a RM70 million contract to build a 59-storey office building along Jalan Mayang, Kuala Lumpur.

The contract was awarded to Vestland’s wholly-owned subsidiary Vestland Resources Sdn Bhd (VRSB) by Sg Besi Construction Sdn Bhd, it said in a filing with Bursa Malaysia.

“The design and build works to be carried out under the contract comprise the design, approval, construction, completion, testing and commissioning of one block of 59-storey strata offices and related facilities,” it said.

The construction is expected to last over two years, commencing on Thursday and scheduled to be completed on Dec 15, 2027.

The latest win marks Vestland's third contract year-to-date, with contract value totalling about RM544.16 million.

In July, it secured a RM195.35 million contract to undertake earthworks for the Kota Bharu–Kuala Krai Expressway project in Kelantan from Euro Saga Sdn Bhd.

In February this year, Vestland also bagged a RM278.81 million contract from Sg Besi Construction to undertake construction works for two blocks of service apartments in Ara Damansara, Petaling Jaya.

Shares of Vestland closed half a sen or 0.85% lower at 58 sen on Thursday, giving the ACE Market-listed company a market capitalisation of RM547.7 million.