After a difficult 1½ years since the onset of the Covid-19 pandemic, boutique property developer Selangor Dredging Berhad (SDB) believes that the property market is set to progressively recover and intends to launch two new Klang Valley-based developments in the foreseeable future.
“After careful planning, we believe that our two upcoming launches would be well received by the market,” said group managing director Teh Lip Kim.
What differentiates SDB’s projects from other developers stem from the company’s commitment of “driving excellence and building lifelong relationships” and its proven track record of delivering quality premium projects which include high-rise and landed developments.
Recently, Jui Residences in Singapore was awarded the BCA Green Mark Award (Gold) based on the Green Mark for New Residential Buildings (RB:2016) by the Building and Construction Authority Singapore. This award is bestowed upon ‘outstanding projects which improve Singapore’s living environment’ (pic above).
Purchasers are in agreement: All 117 units of Jui Residences were fully sold out last month (August 2021), despite the project still attracting keen interest from the market.
Teh was speaking after the company’s AGM held virtually today. Reflecting on the performance for the financial year ended 31st March 2021, she said that the year under review was an extremely difficult one due to operational restrictions brought upon by the pandemic.
Consequently, SDB posted a pre-tax loss of RM9.51 million on the back of a lower turnover of RM144.20 million. After accounting for taxation, net loss widened to RM12.88 million, from the RM4.48 million net loss posted in 2020. However, the losses were mitigated by contribution amounting to RM23.70 million from SDB associated company Fortress Minerals Limited.
Despite the challenging year, SDB’s fundamentals remain strong: Net asset backing per share increased to RM1.98 per share (2020: RM1.96).
SDB projects are constantly sought after due to the company’s strong reputation in consistently delivering ‘extraordinary living experiences’. Its philosophy stems from its innovative ‘Design Thinking’ approach with particular attention to getting the spatial proportions between living spaces and rooms ‘just right’ while maximising the use of natural ventilation and light through rectilinear designs.
Aesthetics is another of the company’s known strength, with the company known for creating artistically designed landscape and incorporating ‘private spaces in public areas’. Safety is also a key theme with the company practicing a holistic, pragmatic approach to security, in addition to integrating earthquake-resistant specifications for its developments.
In recent years, SDB has won numerous industry recognition and international awards, including the FIABCI World Prix d’Excellence Awards which recognises projects for real estate discipline excellence from conception to completion.