Ibraco

What Ibraco does

Ibraco Berhad is a publicly listed Malaysian property development and construction company headquartered in Kuching, Sarawak, with over 50 years of operating history since its establishment in 1974. The company develops integrated townships and standalone residential, commercial, and industrial projects across Kuching, Bintulu, Kota Samarahan, Sibu, and the Klang Valley (Petaling Jaya), supported by a 733-acre landbank with a collective gross development value of RM5.6 billion. Its core products span condominiums (e.g., The Park Residence, The Corliss Residence), serviced apartments and SOHO units (TT3 SOHO, Stutong Heights), terrace houses (Serene 2), shop offices and commercial plazas (TT3 Plaza, Hagen Avenue, Town Square Bintulu), purpose-built industrial facilities (PrimeBay Industrial Park), integrated townships (The NorthBank, Arden City, NewUrban), and an in-township international school (Tunku Putra-HELP International School), with LinQ-uP coworking spaces at selected sites.

Ibraco generates revenue primarily through one-time sale of developed units and land parcels to individual buyers, investors, and commercial tenants, complemented by ancillary services such as coworking and educational facilities. The company sells directly through on-site sales galleries and show units supported by digital registration channels. Geographic reach is anchored in Sarawak, with a dedicated Klang Valley sales office driving NewUrban. The business model is project-based and inherently lumpy, with quarterly results dependent on construction handovers, unbilled sales of RM209 million, and an RM1.2 billion outstanding construction order book providing near-term visibility. Ibraco is also a Class A Contractor with ISO 9001:2008 certification.

The company is actively diversifying beyond traditional property development into adjacent infrastructure-backed verticals. It signed a 30-year Power Purchase Agreement with Syarikat Sesco Bhd in June 2026 for a 100 MW solar PV project in Bintulu Division (expected commercial operation December 2029), introducing long-tenor recurring renewable energy revenue. A Memorandum of Agreement with HMI Medical in October 2025 will bring a 300-bed Regency Hospital to The NorthBank by 2029, entering healthcare real estate. The company also embedded Sarawak Metro's KUTS Autonomous Rapid Transit stations into The NorthBank via a 2022 MoU, layering public transit into its flagship township. These moves position Ibraco as a Sarawak-anchored developer extending into recurring-revenue infrastructure while maintaining its core property development engine.

Name

Ibraco

Legal name

Ibraco Berhad

Website

https://ibraco.com

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ibraco Berhad is a publicly listed Malaysian property developer and Class A contractor founded in 1974, developing residential, commercial, industrial, and integrated township projects across Sarawak and the Klang Valley from a 733-acre landbank, while expanding into solar energy and healthcare real estate.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuching

HQ country

Malaysia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Property Sales - Residential and Commercial: Ibraco generates primary revenue from developing and selling residential properties (apartments, houses, serviced residences), commercial properties (shops, offices, SOHO), and industrial properties. Revenue is one-time from unit sales with no recurring subscription component.
2. Land Sales: Sale of land parcels for development or use by other parties, such as the RM35.4 million sale of 4.2-acre Muara Tebas land to NorthBank Specialist Hospital.
3. Renewable Energy - Solar Power Generation: Entry into large-scale renewable energy infrastructure through 100 MW solar PV project in Bintulu Division with 30-year Power Purchase Agreement with Syarikat Sesco Bhd, expected to generate stable recurring revenue once operational by December 2029.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Ibraco Berhad is a diversified Malaysian property developer established in 1974, developing and selling residential, commercial, and industrial real estate across Sarawak (Kuching, Bintulu, Samarahan, Sibu) and the Klang Valley. The company operates a 733-acre landbank with collective GDV of RM5.6 billion, offering integrated townships, condominiums, serviced apartments, shop offices, SOHOs, factories, and commercial hubs. Ibraco has expanded into renewable energy with a 100 MW solar PV project and healthcare via a hospital development partnership.

Product overview

Ibraco Berhad is a property development company in Sarawak, Malaysia with over 50 years of experience (established 1974) and a landbank of 733 acres across Kuching, Bintulu, and Klang Valley with a collective GDV of RM5.6 billion. The company operates as a diversified property developer offering residential (condominiums, apartments, terrace houses), commercial (shop offices, plazas, SOHO, office towers), industrial (PrimeBay Industrial Park), educational (Tunku Putra-HELP International School), and healthcare (Regency Hospital) developments. Key portfolio projects include The NorthBank mixed-use township in Kuching, PrimeBay Industrial Park, TT3 commercial hub, Arden City integrated township, Town Square Bintulu, Hagen Avenue, and NewUrban in Klang Valley. The company also offers LinQ-uP coworking spaces and provides property management services through its various developments.

Differentiator

Problem solved

Functional benefit

Brands

• The NorthBank: Integrated township development in Kuching featuring residential, commercial, and office properties
• PrimeBay Industrial Park
• Arden City
• NewUrban
• LinQ-uP
• TT3
• NorthBank Club

Products and services

• PrimeBay Industrial Park A purpose-built industrial park in Demak Laut industrial zone offering 73 factory units including two-storey semi-detached and detached factories with features such as double-volume ceiling heights, column-free layouts, multiple access points, and dedicated parking for manufacturers and logistics operators.
• The NorthBank A master-planned township in Kuching featuring residential (Alyvia Residence, Renna Residence, The Corliss Residence, Crestwood Estates), commercial (NorthBank Central, NorthBank Commercial Centre Office Towers, NorthBank Club), and educational components (Tunku Putra-HELP International School).
• NewUrban A RM529 million development in Petaling Jaya, Selangor with a green living vision, representing Ibraco's expansion into the Klang Valley market.
• Arden City An ESG-focused integrated township in Kota Samarahan focused on health and wellness living with The Atrium and Aster Court as key developments.
• TT3 Plaza Shop Office Commercial hub comprising 80 units of 3-storey shop offices and 4 units of 4-storey shop offices with lift accessibility, a standalone food court, 6-storey educational block, and 14-storey SOHO with retail outlets. Starting price from RM1.19 million for 3-storey shop offices.
• TT3 SOHO Apartment A 14-storey apartment in Tabuan Tranquility with 2-storey commercial podium, designed for working adults, small families, and employees with security, fitness, swimming pool, and parking facilities. Unit types include 1-bedroom, 2-bedroom, 3-bedroom with dual key options, and penthouse units.
• The Park Residence Luxury condominiums in Tabuan Tranquility, Kuching comprising 10-storey and 6-storey blocks with 90 and 88 units respectively, featuring 3-bedroom, 4-bedroom, and penthouse units with clubhouse facilities and two covered car parks per unit.
• Hagen Avenue A commercial hub in Bintulu with 3-storey shops, 4-storey shops, and an 8-storey commercial and office tower serving as a corporate destination.
• Town Square Bintulu Mixed commercial development in Bintulu comprising 75 units of 3-storey shop offices, an 8-storey MSC Malaysia Cybercentre corporate office, and Town Square Plaza with 48 shoplot units.
• Horizonz Residence Serviced apartments in Bintulu offering urban living with facilities and proximity to city centre amenities including dining, entertainment, healthcare, and banking.
• Hive Commercial Commercial podium below Hive Residence with retail outlets and office spaces ranging from 355.20 sq ft to 1,055.94 sq ft serving residents of Hive Residence.
• LinQ-uP Coworking Space Coworking facility at Level 5 of Town Square Bintulu Office Block with MSC Malaysia Cybercentre Status, offering hot desks, dedicated desks, suite rooms, meeting rooms for up to 10 people, and a premier lounge.
• NorthBank Commercial Centre - Office Towers 8-storey office towers at The NorthBank with power backup systems and ample parking facilities, designed for innovative businesses with connectivity via Kuching-Samarahan Expressway.
• Stutong Heights Apartment 3 Completed apartment development with 126 units in Kuching featuring 2+1 bedrooms at 861 sq ft or 3-bedroom units ranging from 1,065 to 1,108 sq ft with free covered car parks.
• Serene 2 Completed 4-bedroom terrace houses with 1 guest room, larger terraces, spacious lawn, and car porch for 3 cars, featuring floor to ceiling windows for natural lighting in Tabuan Tranquility.
• 100 MW Solar PV Project A 100 MW solar photovoltaic power project in Bintulu Division, Sarawak, covered by a 30-year Power Purchase Agreement with Syarikat Sesco Bhd, expected to achieve commercial operation by December 2029 for stable recurring energy revenue.

Quantifiable outcome

• RM5.6 billion collective GDV from 733 acres landbank
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Syarikat Sesco BhdcoreStrategic or Co-development Partner · 29 June 2026Ibraco Bhd signed a 30-year Power Purchase Agreement with Syarikat Sesco Bhd for development of a 100 MW solar photovoltaic power project in Bintulu Division, Sarawak. Expected to achieve commercial operation by December 2029, marking Ibraco's entry into large-scale renewable energy infrastructure for stable recurring revenue generation.
• HMI Medical (Health Management International Pte Ltd)coreStrategic or Co-development Partner · 17 October 2025HMI Medical signed a Memorandum of Agreement with Ibraco Berhad to acquire land for establishing its third hospital in Malaysia. The 300-bed Regency Hospital will be located in NorthBank Kuching, targeting a 2029 opening. This partnership supports medical tourism and economic growth in Sarawak while providing recurring lease revenue for Ibraco.
• Pembinaan JBS Sdn BhdminorOthers · 24 May 2024Collaborative CSR partnership with Hope Place and Pembinaan JBS Sdn Bhd for house fixing project. Pembinaan JBS provided construction expertise for renovating homes for families in need in Kuching, Sarawak.
• Sarawak Metro Sdn BhdcoreStrategic or Co-development Partner · 18 July 2022Ibraco signed MoU with Sarawak Metro to collaborate on implementation and management of Kuching Urban Transportation System (KUTS) at The NorthBank. This involves developing ART (Autonomous Rapid Transit) stations within the development, enhancing connectivity and property value for The NorthBank township.
• Hope Place (Persatuan Kebajikan Harapan Kuching)minorOthers · 1 January 2017Ibraco adopted Hope Place as its charity partner since 2017, providing free shop lot spaces for the NGO's operations at Tabuan Tranquility (grown from one to two lots), along with monthly cash sponsorship. Hope Place assists underprivileged families, disabled individuals, senior citizens, and single parents in Sarawak.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• IOI Properties Group Berhad: Diversified Malaysian property developer spanning residential, commercial, retail, and industrial segments with significant recurring investment property income. Closely comparable to Ibraco on product breadth and listed-developer peer benchmarking.
• UEM Sunrise Berhad: Listed Malaysian property developer with mixed-use and township projects, particularly in Iskandar Malaysia and Klang Valley. Comparable in mid-cap listed developer benchmarking and product mix.
• Sime Darby Property Berhad: One of Malaysia's largest listed township developers with integrated residential, commercial, and industrial projects. Highly comparable to Ibraco in product mix and master-planned township model, though at materially greater scale and broader geographic footprint.
• Mah Sing Group Berhad: Mid-cap Malaysian developer focused on residential and commercial projects in Klang Valley and key growth corridors. Comparable in size segment, product mix (affordable-luxury residential plus shop offices), and target buyer demographics.
• Eco World Development Berhad: Listed Malaysian developer of townships and integrated developments with ESG-themed positioning. Comparable to Ibraco's Arden City ESG-focused township and broader integrated development strategy.
• SP Setia Berhad: Leading Malaysian township developer with master-planned communities across the country. Comparable in integrated township strategy, mixed-use developments, and one-time sales revenue model.

Regional players

• Naim Holdings Berhad: Sarawak-based listed developer and contractor active in Kuching, Bintulu, and Miri with property, construction, and oil & gas services. Most direct geographic peer to Ibraco within Sarawak.
• Cahya Mata Sarawak Berhad: Sarawak conglomerate with construction materials, property development, and infrastructure interests. Comparable on Sarawak market exposure and infrastructure-linked property positioning.

Broad incumbents

• Sunway Berhad: Large Malaysian conglomerate with significant property development, construction, healthcare, and renewable energy segments. Comparable across Ibraco's full diversification push into hospital real estate and solar power, though at substantially larger scale.
• Gamuda Berhad: Established Malaysian infrastructure and property group with township development and large-scale project execution capabilities. Comparable on integrated development model and engineering/construction scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ibracoberhad

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ibraco