This article first appeared in The Edge Financial Daily on July 21, 2017

KUALA LUMPUR: Bina Darulaman Bhd (BDB) has unveiled two upcoming integrated township developments in Kedah worth a total of RM2.6 billion in gross development value (GDV).

BDB group managing director Datuk Izham Yusoff said the two projects — Darulaman Saujana in Jitra and Darulaman Putra in Sungai Petani — are expected to be launched by its wholly-owned BDB Land Sdn Bhd this year, to be developed over the next 10 years.

“Through these developments, BDB is responding to market demand for spaces that offer sociability and a lifestyle element beyond homes,” Izham told reporters after launching the two large-scale projects here yesterday, in conjunction with BDB’s Hari Raya Open House.

The two new developments, Izham added, are set to catalyse a new wave of interest in properties in the northern region, said Izham.

Darulaman Saujana is a residential township with a GDV of RM1 billion, spread across 203 acres (82.15ha) of land.

The township will have 1,500 residential units comprising statutory housing, town houses, link houses, semi-dees and bungalow lots, said Izham.

The statutory housing will be priced between RM45,000 and RM200,000 per unit, while the open market housing category will be priced from RM150,000 and RM650,000 per unit.

As for Darulaman Putra, Izham said the development will sit on 232 acres of land, and is expected to garner RM1.6 billion in GDV. The township will have 1,620 residential units, comprising statutory housing, link houses, semi-dees, bungalows and condominiums.

Izham said the open market units are expected to be priced between RM300,000 and RM1 million.

Meanwhile, the group is targeting to launch about RM600 million in GDV this year, said Izham.

The target — which is lower than its earlier projection of RM900 million — will be driven by upcoming launches of affordable housing units in its existing township projects, as well as the upcoming Darulaman Saujana and Darulaman Putra townships.

“We have launched several projects this year ... we should be clocking in a GDV of RM600 million for 2017,” Izham said.

Year to date, BDB has launched about RM275.1 million of projects, with another five projects worth RM383.3 million to be launched before year end, according to an analysis by Malaysian Rating Corp Bhd.

Going forward, Izham said BDB is looking to increase its land bank outside of Kedah.

“Negotiations with various landowners are ongoing, and let’s wait for the outcomes,” he added.

Shares in BDB, which is controlled by the Kedah state government, closed unchanged at 66 sen yesterday, with a market capitalisation of RM200.54 million.