KUALA LUMPUR (Nov 3): GDB Holdings Bhd (KL:GDB) on Tuesday said it has secured a construction contract worth RM877 million to demolish an existing factory and build a two-block, five-storey logistics hub in Seksyen 15, Shah Alam.
The development comprises two five-storey logistics hub buildings featuring integrated mezzanine offices and a dedicated three-storey cafeteria designed for high-capacity supply chain operations, GDB noted.
No further details on the land were provided.
In a bourse filing, the construction firm said its wholly owned subsidiary, Grand Dynamic Builders Sdn Bhd, had accepted a letter of award from Rochester Logistics Asset 2 Sdn Bhd on Nov 2.
“Securing a logistics facility of this scale reflects the confidence our clients place in GDB’s execution capabilities and our established track record of on-time and ahead-of-schedule delivery,” GDB executive director and acting group managing director Andy Lai Wee Young said in a separate statement.
The works are scheduled to run for a 34-month period, commencing on Nov 4, 2026 and targeted for completion on Sept 3, 2029.
GDB said the project is expected to contribute positively to future earnings throughout the duration of the contract, and the company intends to finance it through a mix of internal funds and bank borrowings.
This latest contract win comes just days after GDB announced that its same wholly owned subsidiary, Grand Dynamic Builders, had secured a RM1.02 billion contract from Perdana ParkCity Sdn Bhd to build the ParkCity Residence luxury residential development in Desa ParkCity, Kuala Lumpur.
Together, these back-to-back contract wins expand the company’s outstanding order book to RM2.93 billion.
As at noon-break on Tuesday, GDB shares were down half a sen or 0.86% at 57.5 sen, valuing the company at RM593 million. The counter has risen over 17% over the past one year.