With RM900 million worth of projects lined up for 2017, Bina Darulaman Bhd (BDB), via its subsidiary Kedah Holdings, plans to undertake more pocket development projects to meet housing demand.
Group managing director Datuk Izham Yusoff noted that such projects are mostly residential properties in areas where township development is not viable.
“Pocket developments also provide faster return on investments due to the smaller size and lower costs as compared to townships,” he said.
For next year, the company plans to build a residential development in Kuala Kangsar in Perak and a water theme park in Bandar Darulaman township.
“Kuala Kangsar will be BDB’s first venture outside of Kedah. The project is projected to have a GDV of RM30 million,” said Izham.
The property developer also plans to grow its landbank which currently stands at 809 ha, most of which are located in Kedah.
The company saw its pre-tax profit for the third quarter jump 58 percent to RM8.4 million from RM5.3 million over the same period last year.
Revenue soared 99 percent from RM43.8 million to RM87.2 million.
Izham attributed the better performance to higher contributions from the roads and quarry division, on the back of the ongoing state road maintenance projects.
Aside from property development, roads and quarry, BDB is also engaged in construction and engineering as well as development of golf courses and hotels.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
