GDB bags RM517m deal to build Desa ParkCity’s residential units

KUALA LUMPUR: Construction firm GDB Holdings Bhd has clinched a RM517 million contract to undertake construction work as the main contractor for the Park Regent residential development located at Desa ParkCity here.

The contract is the group’s single largest contract win to-date, and the third time GDB was contracted to build high-rise residential buildings in Desa ParkCity, the group said in a statement yesterday.

The contract was awarded by Cloudvest Sdn Bhd, a wholly- owned unit of Unicorn Frontier Sdn Bhd, which is a 50:50 joint venture entity between ParkCity Property Holdings Sdn Bhd and CapitaLand Malaysia Pte Ltd.

GDB said the Park Regent premium residential development comprises two blocks of 54-storey 505-unit apartments on a five-storey podium, which consists of one storey of residential amenities, a four-storey car park, as well as a one-storey basement car park.

The new contract in hand pushes the group’s total

contract wins this year to RM652 million, said GDB managing director Cheah Ham Cheia.

The contract, which will last 37 months starting Dec 2, brings the group’s total outstanding order book to about RM1 billion, and will provide revenue contribution till the financial year ending Dec 31, 2022.

Source: TheEdgeMarkets