KUALA LUMPUR, 27 September 2024: Boutique property developer Selangor Dredging Berhad (SDB) is set to launch a new development in the Klang Valley in the fourth quarter of 2024. The upcoming project in Taman Putra Perdana, Puchong represents a significant step forward in meeting the growing demand for quality living spaces, focusing on sustainability and innovative design.

Its group managing director Teh Lip Kim cited its current developments – namely 19Trees at Taman Melawati, Kuala Lumpur and Jia at Taman Bukit Serdang, Selangor – as ‘exemplary examples’ of SDB's continuous commitment to quality and innovation.

“Building on the successes of our current developments, SDB is poised to replicate this winning formula in our upcoming project to reach a new demographic of homebuyers. By integrating modern design with elements of sustainable living, we aim to attract a broader audience seeking not just a home, but a lifestyle that resonates with their values,” said Teh.

She added that the strategic locations of SDB’s past and present developments ensure that homeowners will have access to a plethora of facilities and amenities, manifesting in potential high yields for investors and an extraordinary living experience for the residents.

As a boutique property developer, SDB has always been at the forefront of pioneering distinctive residential concepts. At the time of writing, 100% of Jia’s units have been sold. At 19Trees, meanwhile, 93% of the project’s units have been sold. At the time of writing, 19Trees and Jia are at 60% and 72% completion, respectively.

“SDB continues to thrive in a dynamic property market. Our commitment to innovation allows us to respond effectively to changing economic conditions and the evolving preferences of our valued homebuyers. We are dedicated to creating not just homes, but living spaces that truly resonate with the lifestyles and aspirations of every residents. By embracing innovation, we continually strive to raise the bar and enhance the quality of our developments,” Teh further said.

Teh was speaking after the conclusion of the company’s 63rd annual general meeting (AGM) held today.

During the event, shareholders were informed that SDB has total unbilled sales of RM348.86 million, after a commendable financial year whereby the company posted pre-tax profit of RM28.69 million on the back of a higher turnover of RM227.46 million for the year ended 31 March 2024. After accounting for taxation, the Group posted a net profit of RM24.72 million.

For the year under review, SDB’s fundamentals remain strong: Net asset backing per share increased to RM2.08 per share (FY2023: RM2.02).

The positive momentum continued into Quarter 1, FY2025 ended 30 June 2024, with the company posting Group pre-tax profit of RM11.62 million (net profit: RM8.00 million) on the back of a turnover of RM97.60 million for this three-month period.

“What sets our projects apart from other developers is our unwavering ‘Brand Promise’ to consistently deliver top-quality premium offerings, encompassing both high-rise and landed developments,” asserted Teh.

In Singapore, the Group has obtained Temporary Occupation Permit (TOP) for Myra, a freehold luxury development located in Potong Pasir, District 13 in April 2024.

At One Draycott, situated in the upscale Ardmore-Draycott residential enclave in District 10, 100% of the development’s 64 units luxury apartments have been sold in February 2024 through accelerated sales and marketing efforts.

In the hospitality sector, the Group’s hotel business, represented by Hotel Maya Kuala Lumpur posted revenue of RM20.03 million for the year ended 31 March 2024.

The improved result is driven by strong demand for hotel rooms, partly due to the gradual recovery of Malaysia’s tourism sector closing to the pre-pandemic level, which has seen a massive number of tourist arrivals in 2023 as well as the acquisition of new corporate and overseas accounts which have further contributed to overall revenue.

A leading boutique property developer, SDB has won numerous industry awards and accolades. The Group has been honoured with five awards for One Draycott and one award for Jui Residences at The EdgeProp Singapore Excellences Awards 2023.

Recently, SDB managing director, Teh Lip Kim was named the Property Woman of the Year 2023 by the International Real Estate Federation (FIABCI) Malaysian Chapter. The prestigious acknowledgement is a testament to her outstanding contributions and leadership in the property industry, reflecting the calibre of talent within SDB.