WCT, UAE Firm's JV Wins 836 Million Dirham Residential Development Project

MT Newswires Live

Jul 07

WCT's (KLSE:WCT) 50:50 joint venture with UAE-based Construction General Contracting House has secured a subcontract worth 836 million dirham, or about 926.2 million ringgit, for a residential development project in Abu Dhabi, according to a Monday Malaysian bourse filing.

Shares gained over 1% in Tuesday's afternoon trade.

The project involves the construction of six 11-storey residential buildings with a common basement for Aldar Development LLC - O.P.C.'s Yas Riva Residences development.

The subcontract is expected to commence in the third quarter of 2026 and be completed within 1,218 days.

Following the award, WCT International, and CGCH will establish a 50:50 incorporated joint venture company to undertake and execute the subcontract works.

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