PETALING JAYA: GDB Holdings Bhd has secured a RM1.017 billion contract to construct ParkCity Residences in Desa ParkCity, Kuala Lumpur, lifting its year-to-date contract wins to a record RM1.81 billion.
The construction group said in a filing with Bursa Malaysia that its wholly-owned subsidiary, Grand Dynamic Builders Sdn Bhd, accepted a letter of award from Perdana ParkCity Sdn Bhd on Oct 26 to undertake the main building works for the residential development.
The contract increases GDB’s total order book to approximately RM2.05 billion, its highest level in five years, providing earnings visibility until 2031.
The project comprises two residential towers ranging from 49 to 63 storeys, with a total of 433 apartments. It also includes a seven-storey podium housing residential amenities and car parking, as well as a two-storey basement car park.
Construction is scheduled to commence on Nov 4, 2026, with completion targeted for Aug 18, 2031, over a period of 57.5 months.
GDB said the contract, its largest residential award to date, is expected to contribute positively to the group’s future earnings throughout the contract period.
The project will be financed through internally generated funds and/or bank borrowings, as required.
GDB executive director and acting group managing director Andy Lai Wee Young said Perdana ParkCity had entrusted the group with its flagship developments for more than a decade, reflecting confidence in its execution capabilities, workmanship and timely delivery.
The two companies have worked together since 2013, with GDB having completed One Central Park, Westside III and Park Regent in Desa ParkCity.
Lai said the group had a strong project pipeline across Peninsular and East Malaysia, positioning it to deliver sustained performance in the coming years.