KUALA LUMPUR, December 5 — Property developer Bina Darulaman Bhd (BDB), is lining up projects with a gross development value (GDV) of RM900 million for 2017.
Group Managing Director Datuk Izham Yusoff said the projects include a water theme park in Bandar Darulaman township and residential development in Kuala Kangsar, Perak.
“Kuala Kangsar will be BDB’s first venture outside of Kedah. The project is projected to have a GDV of RM30 million,” he told reporters at a briefing here today.
Izham said the company, through its subsidiary, Kedah Holdings, will also undertake more “pocket development” projects which are smaller-sized developments compared to townships to meet housing demand.
He said such projects comprise mostly residential properties in areas where township development is not a viable option.
“Pocket developments also provide a faster return on investments due to the smaller size and lower costs as compared to townships,” he added.
Izham said the company is also looking to increase its landbank and was currently looking at areas in northern Malaysia and in close proximity to railway stations.
BDB’s landbank currently stands at 809 hectares, mostly in Kedah.
For the third quarter, BDB’s pre-tax profit jumped 58 per cent to RM8.4 million from RM5.3 million in the same period last year.
Revenue surged 99 per cent to RM87.2 million from RM43.8 million.
Izham said the better fiscal performance was mainly due to higher contribution from the roads and quarry division following the ongoing state road maintenance projects.
Apart from property development, roads and quarry, the company is also involved in engineering and construction, as well as development of hotels and golf courses.