KUALA LUMPUR: Kumpulan Kitacon Bhd's unit has bagged an award from Sime Darby Property City (City of Elmina) Sdn Bhd for main building works worth RM80.98 million.

Kitacon Sdn Bhd said it will construct 40 double-storey cluster houses, 86 units of double-storey semi-detached houses and one Tenaga Nasional substation in Section U15, Shah Alam.

In a filing with Bursa Malaysia, it said the contract will commence on April 22, 2024, and completed within 18 months.

The contract will not have any effect on the share capital and shareholding structure of Kumpulan Kitacon Bhd.

However, Kitacon expects the contract to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2024, onwards until the expiry of the contract.