KUALA LUMPUR (Feb 8): Bina Darulaman Bhd (BDB) plans to launch about RM1.2 billion gross development value (GDV) of projects for 2017, mainly comprising affordable units, across six new developments.

In line with the developer's focus on the affordable housing segment, BDB group managing director Datuk Izham Yusoff said a majority of the new developments will feature properties priced below RM500,000.

"For 2017, our focus will remain on delivering affordable homes where 85% of our products will be within the affordable range. BDB Land (Sdn Bhd) and Kedah Holdings (Sdn Bhd) will work towards delivering those units this year," he said, adding 3,489 units of the planned 4,121 units to be launched for the year will be affordable units.

These new launches include two new townships with a combined GDV of RM999.5 million located in Kedah, namely Darulaman Saujana in Jitra and Darulaman Putra in Sungai Petani, by its property development unit BDB Land.

Meanwhile, BDB's newly restructured pocket development unit Kedah Holdings will be working on four new pocket developments with a combined GDV of RM246.4 million.

Izham said the Kuala Kangsar pocket development, known as Mercu Jaya, is expected to be launched within the first quarter this year, marking it as the first development project for Kedah Holdings after its restructuring over the past few years.

The Kuala Kangsar project is also BDB's maiden venture into Perak and its first development outside the Kedah state.

Tentatively, the remaining three pocket developments in Kedah, namely in Serdang, Pokok Sena and Napoh, are expected to be launched from the second half of the year onwards.

For these three pocket developments, 71% will comprise budget property units, while 10% of units would be in the affordable category. The remaining units have been allocated for high-end properties (4%) and medium cost units (15%).

"With BDB Land and Kedah Holdings, we have RM1.2 billion [worth] of products to be launched. However, we might not launch all of the units this year.

"We are planning to carry on with the affordable units first, but we will have to see how the property market turns out before we launch the medium- and high-end units," said Izham.

Asked if the subdued Malaysian property market is a concern to BDB, he said there are still opportunities amid the headwinds.

"Our market tends to be in the northern area. In Kedah, there is huge demand for affordable homes as there is not much supply of affordable homes.

"I believe that's the sweet spot for BDB, as we are well positioned to capture that demand with our three existing townships and the new ones we are going to develop," he said.

At 3.19pm, BDB shares slipped 0.5 sen or 0.71% to trade at 70 sen, giving it a market capitalisation of RM214.22 million. Over the past one year, the stock has gained over 19%.