Rivertree STF Synergies Berhad, a property developer listed on the Main Market, has announced that its subsidiary, RSSB Builders Sdn Bhd, has secured a RM168.1m contract to design and build a Centralised Labour Quarters (CLQ) in Meru, Klang. The project, known as Q Centre @ Teratai, will provide accommodation for 9,000 workers and is expected to be completed by June 2028.
The contract, awarded by Asetvest Sdn Bhd, marks the first project under a Heads of Agreement signed in March 2026 between Rivertree, Asetra, Catenary Capital, and Q Centre Management. This agreement outlines the development of up to four CLQ facilities in the Klang Valley, with a total capacity of 28,800 beds and an indicative development value of approximately RM600m.
Executive Director of Rivertree, Simon David Leong, highlighted the significance of the contract, stating, “Securing this RM168.1m contract is a defining moment for RSSB. We are committed to delivering a facility that meets the highest standards of compliance and quality.” He added that the contract would enhance the company’s construction order book and contribute to earnings over the next two financial years.
Catenary Capital, the investment firm managing Asetra, views the project as a strategic investment in compliant worker accommodation, addressing the demand for Act 446-compliant housing in Malaysia. Founding Partner Hizzan Hamid noted, “Q Centre @ Teratai is a deliberate choice for our first capital deployment. It reflects the structural case for investing in compliant, professionally managed worker accommodation.”
The construction of Q Centre @ Teratai is set to conclude with the Certification of Completion and Compliance by December 2028.
