On Aug 17, Aspen Vision City awarded a RM442 million (S$140.4 million) contract for the main construction of a Penang residential development – Vertu Resort – to Kerjaya Prospek (M), a subsidiary of Kerjaya Prospek Group. Aspen Vision City is a joint venture company of Aspen Group and IKEA Southeast Asia.

This means Kerjaya Prospek (M) will be in charge of the overall building works of Vertu Project, including civil and structural works, electrical works and external infrastructure works, among others.

Vertu Resort, which is housed on a 200,000 sq ft site, is a resort-inspired residential project within Aspen Vision City in Penang (below). Located 350 metres away from the first IKEA store in the northern region of Peninsula Malaysia, the residential development is said to have unobstructed views of the 25-acre Central Island Park. According to Aspen Group, each unit is furnished to move-in condition.

Source: Aspen Group

Vertu Resort opened for registration early last year. Construction of the residential development started early this year, and expected completion date is set for 4Q 2018. Vertu Project is set to complete construction alongside three other developments – the Vervéa commercial district, the Columbia Asia Medical Centre and the IKEA store – within Aspen Vision City.