Sime Darby Property To Build More Affordable Properties
Sime Darby Property Eye-ing On Affordable Properties
Acting Group Chief Executive Officer Datuk Wan Hashimi Albakri said the company has a vast array of goods in various price ranges from cheap to luxury.”However, given the current market uncertainty, in light of the Covid-19 epidemic and political scenario, we’re offering a more affordable properties as that is where most of the demand is at this time,” he explained.
Sime Darby Property posted annual sales of RM3.1 billion for the fiscal year ending December 31, 2019, up 35% from its RM2.3 billion earnings estimate, The Star reported.
Total unbilled revenues stood at RM1.6 billion as of December 31, 2019. It achieved a better net profit of RM 598.5 million, largely thanks to one-off income and increased contribution from its core business, the home development market. This year the team benefited from a one-time income of RM245.5 million from property disposal. In 2019 sales soared by RM2.4 billion to RM3.2 billion on exactly the same period a year ago.
With 2020 anticipated to be a challenging year for the housing market, Sime Darby Property opted to retain its 2019 earnings goal of RM2.3 billion to this season.