BDB targets new launches worth RM1.25 bil in Kedah, Perak for 2017

PETALING JAYA (Feb 8): Kedah-based property developer Bina Darulaman Bhd (BDB) will be launching new projects worth up to RM1.25 billion in its existing and upcoming township developments this year, said executive director Datuk Izham Yusoff (pictured).

The overall property market in Malaysia is expected to remain flat this year, particularly the demand for high-end housing due to cautious consumer sentiment and tight end-financing approvals, Izham told reporters at a media briefing today.

However, as the demand for affordable housing remains strong, BDB will continue to focus on meeting the demand for affordable units within its developments in Kedah, he said.

“2017 will continue to be challenging but there is still a huge demand for affordable houses in Kedah, so that is where the sweet spot is,” he added.

With a total estimated gross development value (GDV) of RM1.25 billion, the new launches comprise 4,131 units in total.

Among them would be 3,489 units (84%) of affordable houses with prices of RM500,000 and below, 288 units or 7%  mid-end products with prices ranging from RM501,000 to RM700,000, and the remaining 354 units or 9%  high-end products with prices above RM700,000.

Izham believes the affordable houses that have a total GDV of RM775.1 million will be able to cater to first-time homebuyers within the age bracket of 25 to 39 years old, including single and young families.

“As for the mid and high-end products, we will launch them if the market is favourable. Otherwise, we will delay them,” he said.

Among other new launches this year are two new township developments in Kedah that are set for launch in the fourth quarter of the year (4Q2017), namely Darulaman Saujana, Jitra and Darulaman Putra, Sungai Petani.

The 206.36-acre Darulaman Saujana has an estimated GDV of RM1.04 billion. The township will consist of link houses, semidees, apartments, Small-office Home-offices, Small-office Versatile-offices (SoVos), themed malls and office towers.

Meanwhile, Darulaman Putra has an estimated GDV of RM1.6 billion. The 229.98-acres township will comprise   condominiums, link houses, bungalows, SoVos, hotel, wellness centre, private school and shopping mall.

BDB will also be launching new phases at its existing townships including Bandar Darulaman in Jitra, Darulaman Perdana in Sungai Petani, and Darulaman Utama in Kuala Ketil. The new phases will comprise link houses, semi-dees, bungalows, townhouses and condominiums.

Izham added that BDB is also planning to launch a few smaller projects namely Aman Perdana in Serdang, Permata Sejahtera in Pokok Sena, and Napoh, all in Kedah as well as Mercu Jaya in Kuala Kangsar, Perak.

He said BDB, which currently owns 2,000 acres of land, is looking to acquire more land in the country, including in the Klang Valley.

“We have no plans to go into Penang as it is a tough market… we are open to buy land anywhere but we try to stay away from saturated markets unless the land is in a strategic location,” he concluded.