YTL Corp posts RM70.7m property loss but advances projects in Malaysia and UK

YTL Corp Bhd reported a pre-tax loss of RM70.7 million in its property investment and development segment for FY2026, swung from a restated RM188.8 million profit a year earlier. The group completed its fully sold Dedaun Rimba project in Kwasa Damansara and progressed work at Brabazon Bristol in the

PETALING JAYA (Nov 2) — YTL Corp Bhd said it has completed its fully sold Dedaun Rimba residential project in Kwasa Damansara, while infrastructure works at Brabazon Bristol in the UK have unlocked more than 100 acres of land for development.

In its annual report submitted in a Bursa Malaysia filing on Friday (Oct 30), the group also outlined progress at residential projects in Puchong and Ipoh, alongside regeneration initiatives within its 250-acre freehold landbank in Sentul, Kuala Lumpur.

However, its property investment and development segment recorded a pre-tax loss of RM70.7 million for the financial year ended June 30, 2026 (FY2026), compared with a restated pre-tax profit of RM188.8 million a year earlier. Segment revenue fell 27.2% to RM433.5 million from a restated RM595.5 million. The group attributed the decline mainly to the absence of revenue from an office building sale recorded in the preceding year and lower revenue from Brabazon.

Dedaun Rimba was completed ahead of schedule in June 2026, becoming the first completed residential development in Kwasa Damansara, according to the group. With a gross development value (GDV) of RM200 million, the project comprises 264 homes, including 68 three-storey link houses and 196 one-and-a-half-storey townhouses.

In Puchong, superstructure works at Danau Puchong reached 90% completion as at June 2026. The serviced apartment development, adjacent to the group’s Lake Edge project, has a GDV of RM200 million and comprises two residential towers with 428 units. Meanwhile, all three phases of Olive Grove in Bercham, Ipoh, were fully sold. The development comprises 380 two-storey link houses with a total GDV of RM180 million. Its second phase was completed in July 2026, after the financial year-end, while the third phase, comprising 129 homes, was approximately 50% complete as at June 2026.

In Sentul, YTL Corp said its flexible master-planning approach allows adjustments to development phasing, design and mix in response to market needs. Regeneration of the area’s former railway assets continued with the opening of Diesel Room at Sentul Depot in February 2026. The restored workshop houses a food and beverage destination anchored by Grumpy Bagels, following the conversion of another workshop into Pickle Depot and Padel Depot in 2025.

In the UK, the group said Runway Avenue opened earlier in 2026 at its 400-acre Brabazon Bristol development, bringing mains utilities through the site. The former Filton Airfield redevelopment has also been shortlisted for the UK government’s New Towns programme, according to the report. Its first residential phase, The Hangar District, sold out during FY2026, with more than 300 homes completed and occupied. The report said construction of the second phase, The Heritage District, comprising 100 homes, was approximately 50% complete, with completion targeted later in 2026.

YTL Corp is also building a rental housing scheme comprising 189 apartments and seven houses at Brabazon. For its 1,514-bed Propeller Quarter student accommodation scheme, the group said the first 750 beds were completed for the start of the academic year in September 2026. The remaining 764 beds are scheduled for completion in 2027. Commercial development includes The Interchange, an eight-storey Grade A office building targeted for occupation in the first quarter of 2028. Planning approval has also been obtained for One Brabazon Gateway, where the group said Waitrose will anchor the development with a 30,000 sq ft store. Bristol Brabazon railway station was under construction, with opening scheduled for late 2026, according to the report. Main construction works were also underway on the 20,000-capacity Aviva Arena.

Across the wider group, FY2026 net profit attributable to shareholders fell 27.1% to RM1.43 billion from a restated RM1.97 billion, although revenue rose 2.7% to RM31.63 billion from RM30.80 billion. The hotel operations segment recorded higher pre-tax profit of RM372.2 million, compared with RM334.8 million previously, as revenue increased to RM1.69 billion from RM1.64 billion. YTL Corp said the outlook for its property investment and development segment remained positive, supported by residential and commercial projects in Malaysia and the UK, as well as progress in connectivity and infrastructure around Brabazon.