Bina Darulaman lines up RM900m projects next year

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 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 RM30mil," he told reporters on Monday.

Izham said the 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 wanted to increase its landbank and was looking at areas in northern Malaysia and which were near railway stations.

BDB's landbank is 809 hectares, mostly in Kedah.

For the third quarter, BDB's pre-tax profit jumped 58% to RM8.4mil from RM5.3mil a year ago. 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.

Bina Darulaman's core activities are property development, quarry, engineering and construction, development of hotels and golf courses. - Bernama