Bina Darulaman Group group managing director Datuk Izham Yusoff said the company is confident that the property market in Kedah and of the northern region will remain unfazed by the current economic situation.
KUALA LUMPUR: Property developer Bina Darulaman Bhd
(BDB) is lining up projects with a gross development value (GDV) of RM900mil for 2017.
Group managing director Datuk Izham Yusoff said the projects included 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 RM30mil,” he told reporters at a briefing in Kuala Lumpur on Monday.
Izham said the company, through its subsidiary, Kedah Holdings, would also undertake more “pocket development” projects which were smaller-sized developments compared to townships to meet housing demand.
He said such projects comprised mostly residential properties in areas where township development was 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 was 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 809ha, mostly in Kedah.
For the third quarter, BDB’s pre-tax profit jumped 58% to RM8.4mil from RM5.3mil in the same period last year.
Revenue surged 99% to RM87.2mil from RM43.8mil.
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. - Bernama
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