Radium Development 4Q net profit reaches RM1.73 mil, eyes healthcare expansion

PETALING JAYA (Feb 26): Property developer Radium Development Bhd reported a lower net profit of RM1.73 million for its fourth quarter, while quarterly revenue rose to RM71.58 million from RM46.20 million.

For the financial year ended Dec 31, 2025 (FYE2025), the group recorded revenue of RM199.2 million, up from RM152.8 million in the previous financial year. Full-year net profit increased sevenfold, primarily due to a one-off gain of RM123.7 million arising from a land settlement with Kuala Lumpur City Hall. Revenue for the year rose 30%.

Separately, the group announced plans to diversify into the healthcare sector. Its wholly owned subsidiary, Radium Healthcare Sdn Bhd, will lead the new venture, while its 90%-owned unit, Radium Hospital Ayer Keroh Sdn Bhd, will undertake the development of its first hospital project.

In September 2024, the company acquired 2.88 hectares of land in Ayer Keroh, Melaka, for RM25.5 million. A 140-bed hospital, expandable to 200 beds, is planned for the site. Completion is targeted for the first half of 2028. The project carries an estimated development cost of RM300 million, to be funded through bank borrowings and internal funds.

The hospital development will add healthcare real estate assets, including hospital buildings and medical facilities, to the group’s portfolio. The group may explore property-led healthcare developments, including mixed-use projects integrating medical facilities with residential, retail or commercial components, subject to market conditions and regulatory approvals. The proposed diversification is subject to shareholder approval at an extraordinary general meeting, while the group will continue its core property development activities.

Radium’s development pipeline remains active heading into 2026. Vista Adesa and Radium Adesa carry a combined estimated gross development value (GDV) of RM980 million. Radium Arena at Old Klang Road comprises 988 suite apartments with an estimated GDV of RM505 million.

A joint venture project in Kepong, slated for launch in the second quarter of 2026, is projected to contribute RM400 million in GDV. Meanwhile, the group’s maiden Selangor development in Pandan Indah, targeted for launch in the fourth quarter of 2026, has a potential estimated GDV of RM500 million. A strategic land acquisition in Cheras further strengthens the group’s future pipeline, with an estimated GDV of RM2.54 billion.

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