By SIOW NAN YEE / Graphic By TMR
Bina Darulaman Bhd’s (BDB) subsidiary, BDB Land Sdn Bhd, inked memoranda of understanding (MoUs) with nine anchor retailers for its Axis Commercial Hub development.
In an exchange filing yesterday, the group said the commercial hub, located in the township development of Bandar Darulaman, Jitra, will commence construction this month and is targeted for completion by the end of 2019.
The company planned to commence the operation of its petrol station in the fourth quarter of 2019 (4Q19), while the businesses in the shop lots are expected to be opened to the public as early as 1Q20.
In the months of its development, the company noted that the number of retailers can expand to up to 25 with a mix of lifestyle, food and beverage, and education outlets.
BDB chairman Datuk Rasli Basir said in a statement that the project will provide the Kedah market with a niche hub that will enhance the living experience of the people.
“We want the hub to be synonymous with good food, education and a retail mix that is ideal for community engagement.
“Through the Axis Commercial Hub, we want to encourage the local-based businesses and household brands to participate in the developmental progress of the state,” he added.
The MoUs were signed with CBD Retail Sdn Bhd, CBR Coffee, Bayu Delight Food and Beverage, Pasar Mini Rajas, Mega Z Resources, Tadika Khalifah Unggul Cemerlang, Nida Atfal Sdn Bhd, Big Galleys Cafe Enterprise, and WB Health and Beauty Sdn Bhd, which are the operators or proprietors of nine business brands.
A lease agreement was signed with EM Opulence Sdn Bhd for the operation of the petrol station at the hub.
The investment company also said an Axis Neighbourhood Retail Centre, which consists of 15 units of double-storey shop lots, and 41,000 sq ft of rentable space, will be built within the hub at a cost of nearly RM5 million.
“The education centre is touted to be Kedah’s first education-centric development, providing early specialised education facilities to the growing population around Alor Setar,” the group told Bursa Malaysia.
The event also marked the official opening of BDB Land’s first Lifestyle Gallery that functions as the company’s development for the township.
BDB is a listed investment company responsible for property and township development, construction, road building and maintenance, quarry and golf, as well as tourism, leisure and hospitality via its subsidiaries in Kedah.