Malaysia's GDB Holdings Secures RM1.017 Billion Residential Construction Contract

en.Wedoany.com Reported - On October 26, Malaysian construction company GDB Holdings announced that its wholly-owned subsidiary Grand Dynamic Builders has formally accepted a RM1.017 billion residential construction contract awarded by property developer Perdana ParkCity, undertaking the main building works for the ParkCity Residences project in Kuala Lumpur. The project comprises two residential towers of 49 and 63 storeys with a total of 433 apartments, and is scheduled to commence on November 4, 2026, with completion on August 18, 2031.

The works are located in the Desa ParkCity residential development area in Kuala Lumpur, specifically on Lot 81582 beside Medan Residen road. The two residential towers will be built atop a 7-storey podium, of which 2 storeys will be used for residential communal facilities and 5 storeys for parking space. Residential amenities will also be provided at the ground level, along with a two-storey underground car park. The total contract period is 57.5 months, with Grand Dynamic Builders serving as the main contractor for the main building works.

This contract is the largest residential construction contract GDB Holdings has secured to date. Following the signing, the Group's cumulative new contract value for 2026 reached RM1.81 billion, bringing its total existing order book to approximately RM2.05 billion. The company plans to fund the works through internal operating funds and bank loans in accordance with construction funding requirements.

Perdana ParkCity and GDB Holdings have collaborated on projects since 2013, with the latter having previously undertaken residential projects in the Desa ParkCity development area including One Central Park, Westside III and Park Regent. The letter of award for the ParkCity Residences contract was issued on October 21, and GDB Holdings formally accepted it on October 26 and made an announcement to Bursa Malaysia.