Sarawak Consolidated Industries (KLSE:SCIB) unit SCIB Ecobuild signed a deal with Inland World to jointly develop a residential project in Sabah, Malaysia, with an estimated gross development value of 83.2 million ringgit, according to a Friday Malaysian bourse filing.
The project, known as Dimpoukon Residence, will comprise two nine-storey condominium blocks with a total of 144 residential units.
Under the deal, SCIB Ecobuild will be responsible for the project's implementation, management and execution, while Inland World will remain the registered and licensed developer.
SCIB Ecobuild will be entitled to 80% of the project's net development profit,with Inland World receiving the remaining 20%.
SCIB said the project is expected to be completed by February 2029, subject to the fulfilment of conditions and receipt of required approvals.