PETALING JAYA: Construction group GDB Holdings Bhd
has secured a RM1.017bil contract from Perdana ParkCity Sdn Bhd to build ParkCity Residences, a luxury residential development in Desa ParkCity.
Through its wholly-owned subsidiary, Grand Dynamic Builders Sdn Bhd, GDB said it will undertake the construction of two residential blocks ranging from 49 to 63 storeys, comprising 433 apartments.
“The scope also includes a seven-storey podium housing residential amenities and car parking, alongside a two-storey basement car park.
“The project commences in November 2026 and is slated for completion in August 2031,” it said in a statement.
GDB said the RM1.017bil contract was the largest residential award in the group’s history, lifting year-to-date wins to a record RM1.81bil.
With the award, its total order book expands to about RM2.05bil, providing robust earnings visibility until 2031.
In the same statement, GDB executive director and acting group managing director Andy Lai Wee Young said the group is well positioned to deliver sustained performance in the coming years, given its strong project pipeline across Peninsular Malaysia, Sabah and Sarawak.
“Perdana ParkCity has entrusted GDB with its flagship developments for over a decade, reflecting its confidence in our execution capabilities, quality workmanship and timely delivery.”
GDB said it has built a strong working relationship with Perdana ParkCity since 2013, having delivered One Central Park, Westside III and Park Regent at Desa ParkCity.
“GDB has also demonstrated exceptional performance within the construction sector, with Metrohub 4 achieving a Qlassic (Quality Assessment System in Cons-truction) score of 90% and Park Regent a BuildQAS score of 85.5%, both ranking among the highest in the industry.”
For its second quarter ended June 30, 2026 (2Q26), GDB’s net profit dropped to RM13.2mil from RM21.75mil in the previous corresponding period, while revenue slipped to RM142.48mil from RM180.86mil a year earlier.
In a statement, the company said the decrease in revenue was mainly due to existing projects nearing completion, namely the KL International Hospital project in Bukit Jalil, Logistic Hub project in Shah Alam, the Metrohub 4 Logistic Hub project in Klang.
It said lower profit during 2Q26 was in line with the lower revenue recorded, coupled with an increase in administrative expenses resulting from the group’s expanded structure to support its expansion into Sarawak and Sabah, as well as its diversification into other businesses.
Going forward, the company said it would continue to pursue new contract opportunities to capitalise on improving market conditions, supported by sustained public and private investment in the building construction sector.
“The group will continue to closely monitor its operating environment through regular assessments to ensure prudent financial and operational management amid evolving regulatory requirements, geopolitical uncertainties and global trade tensions.
“Barring any unforeseen circumstances, the group remains cautiously optimistic about its performance for the financial year ending Dec 31, 2026,” it added.
