1 month ago
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PETALING JAYA: Bina Darulaman Bhd’s (BDB) wholly owned subsidiary BDB Land Sdn Bhd has signed a memorandum of understanding (MoU) with Lagenda Properties Bhd on the proposed joint development of affordable township Darulaman Putra in Sungai Petani, Kedah.
BDB president and CEO Faris Najhan Hashim said the signing of the MoU was an ongoing effort by BDB Land to develop affordable housing in an area of 148 acres and further expand its business network and support each other in projects that benefit both parties.
BDB Land and Lagenda Properties will also explore opportunities for an 82-acres development in the same area, focusing on commercial development, as well as affordable housing and this plan is expected to add value to the affordable township. The gross development value is estimated at around RM550 million.
Faris Najhan said Lagenda Properties is experienced in developing affordable townships.
“Darulaman Putra is the first township of its kind that will be developed by BDB Land to meet the affordable property market segment at a selling price of RM350,000 and below. Certainly with the vast experience possessed by Lagenda Properties in developing affordable townships, it could benefit the residential development specifically for the B40 and M40 groups in Kedah,“ he said in a statement today.
The development of Darulaman Putra is expected to take place within five years which will include affordable housing, commercial buildings and community centre.
Faris Najhan explained that the orientation of the property market today is focused on the development of affordable housing and it is a segment that will be explored further by BDB Land in the future.
“BDB Land aims to be the catalyst for affordable township development in Kedah and at the same time to support the government in providing housing to the people in this state,“ he said.
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