PETALING JAYA, July 7 — Bina Darulaman Bhd’s four projects on Langkawi over the next five to seven years will have an estimated gross development value (GDV) of RM1.5 billion.
Managing Director Datuk Izham Yusoff said the projects include a mixed property development in Pekan Kuah, an Eco Tourism Project and upgrading of the Kuah jetty, which are expected to begin next year.
“We are currently discussing the jetty upgrading project with the Langkawi Municipal Council, which owns it.
“We will form a joint venture (JV) with the Council to upgrade facilities, including parking spaces into multi-storey buildings and build hotels,” he told a media briefing here, Tuesday.
In respect of the company’s focus over the next two years, Izham said Bina Darulaman is trying to build more affordable houses, particularly in Kedah.
“Our recently launched Taman Tunku Intan Safinaz in Jitra, is 70 per cent booked to date, which demonstrates the huge demand at present,” he added.
In terms of the construction business, he said the company, through its subsidiary, BDB Synergy, is currently focused on bidding for the government’s affordable housing projects.
“We have been working with agencies as Perbadanan PR1MA Malaysia and Syarikat Perumahan Negara Bhd, and hope to secure some projects by year-end,” Izham said.
Bina Darulaman’s current landbank is at about 809.37 hectares and the company is open to either acquiring new land or form JVs with land owners to increase its hectarage.
“My strategy is, whenever the market is weak, there is always some potential land (to be acquired) you can see value in and develop at an opportune time.
“But, if there are other offers, JVs for example, that’s quicker for us to move on, as everybody is pitching in and the risk is rather diversified,” Izham said.