GDB wins RM1.017b contract for ParkCity Residences in Desa ParkCity

GDB Holdings Bhd has secured a RM1.017 billion contract from Perdana ParkCity Sdn Bhd to build ParkCity Residences in Desa ParkCity, Kuala Lumpur. The 57.5-month project comprises two residential blocks with 433 apartments, scheduled to begin in November 2026.

PETALING JAYA (Oct 26): Construction group GDB Holdings Bhd has secured a RM1.017 billion contract from Perdana ParkCity Sdn Bhd to build ParkCity Residences in Desa ParkCity, Kuala Lumpur.

In a Bursa filing on Monday (Oct 26), GDB said its wholly owned subsidiary Grand Dynamic Builders Sdn Bhd had accepted a letter of award dated Oct 21 appointing it as the main contractor for the development. In a separate statement, GDB said the award was its largest residential contract to date, lifting its year-to-date contract wins to a record RM1.81 billion. Its total order book rose to approximately RM2.05 billion, which the group said was its highest level in five years.

The project comprises two residential blocks ranging from 49 to 63 storeys, with 433 apartments, on Lot 81582, off Medan Residen, Desa ParkCity, Mukim Batu. The scope includes a seven-storey podium comprising two levels of residential amenities and five levels of parking, along with ground-level residential amenities and a two-storey basement car park.

The 57.5-month contract is scheduled to commence on Nov 4, 2026, with completion scheduled for Aug 18, 2031. GDB said it has worked with Perdana ParkCity since 2013, having delivered One Central Park, Westside III and Park Regent in Desa ParkCity.

In the filing, the group said the contract is expected to contribute positively to its earnings throughout the contract period, barring unforeseen circumstances. It intends to finance the works through internally generated funds and/or bank borrowings, as required.

For the second quarter ended June 30, 2026 (2QFY2026), GDB’s net profit fell 39.3 per cent to RM13.2 million from RM21.75 million a year earlier. Revenue declined 21.2 per cent to RM142.48 million from RM180.86 million.