Construction services firm GDB Holdings Berhad has secured its single-largest contract of approximately RM1.25 billion to complete the remaining main building works for 8 Conlay, the upscale integrated mixed development in Jalan Conlay, Kuala Lumpur.
GDB’s wholly-owned subsidiary Grand Dynamic Builders Sdn Bhd (GDBSB) executed a Letter of Intent (LOI) with Damai City Sdn Bhd, a wholly-owned subsidiary of KSK Land Sdn Bhd, with the mutual intention to enter into a definitive Letter of Award (LOA) to appoint GDBSB as the main contractor for the works within 14 days from the date of LOI.
Conlay 8 is situated between the KLCC area and the bustling Golden Triangle. It is designed with three towers, atop a four-storey experiential retail space. The integrated mixed development features the first and only five-star 68 storeys high Kempinski Hotel in Malaysia and two twisted towers which are devoted exclusively to branded serviced residences called YOO8 serviced by Kempinski.
The branded serviced residential towers stand at 61 levels for Tower A and 56 levels for Tower B. These three tower blocks would be complemented by a 10-storey podium and a five-level basement.
“Since inception, GDB has been entrusted by discerning clientele to execute crucial superstructure works for high-end residential and/or commercial developments, because we take immense pride in delivering works of outstanding quality which are appreciated by target buyers.
Having secured this LOI for 8 Conlay is the pinnacle in our portfolio, in light of the project’s iconic luxury and ambitious endeavour in the city centre. These three high-rise blocks would be the tallest towers that we participate in, and would showcase our extensive capabilities in carrying out technically-challenging undertakings” said Cheah Ham Cheia, Group Managing Director of GDB Holdings Berhad.
The overall duration of the contract will be for 32 months and is expected to contribute positively towards future earnings of GDB for the duration of the contract.
Besides this project, GDB’s ongoing high-rise projects are the AIRA Residence Damansara Heights, Park Regent Desa ParkCity in Kuala Lumpur, Perla Ara Sentral in AraDamansara, and the Hyatt Centric Hotel in Kota Kinabalu in Sabah.
“This new contract in hand demonstrates our immense competitiveness to secure large-scale contracts even amidst the current challenging landscape in the property development sector.
With every project, and even more so in large-scale undertakings, we strive to reinforce our track record for excellent delivery, not just adhering to the required timeliness but also doing so by maintaining distinctively-high quality accreditations.
Time and time again, we have received accolades by industry bodies for establishing definitive standards of works for premium high-rise buildings, and we hope to continue this streak,” Cheah expressed.