Khor:
KUALA LUMPUR: SP Setia Bhd
is confident of achieving its sales target of RM4 billion this year, says president and CEO Datuk Khor Chap Jen.
He said the sales would derive from new property launches and existing developments.
"Both the Setia Alam and Setia Eco Templer developments, with a take-up rate of 86% and 88% respectively, are evident that the underlying demand is still strong," he told reporters after the AGM on Wednesday.
This year, SP Setia will be launching 13 projects comprising 8,200 units of landed property and high rise with a gross development value (GDV) of RM4.7bil, said Khor.
Khor said subsequently, SP Setia will hold 11 more launches throughout the year, including KL Eco City in Bangsar with a GDV of RM444mil; Setia Sky Ville in Penang (RM477mil); Setia Trio in Klang (RM351mil); Setia Business Park II in Johor (RM127mil); and Carnegie in Melbourne, Australia (A$31mil).
The next immediate launches will be the Setia EcoHill 2 in Semenyih with a GDV of RM512mil and Setia Sky Seputeh (Tower A) in Taman Seputeh (RM406mil).
On overseas ventures, he said in the Battersea development in London, SP Setia has launched as much as it could, with sales expected to be slightly slow.
"The Singapore market is also slow due to the cooling measures imposed by its government," he said, adding the Australia property market, however, is showing strong demand.
SP Setia Bhd posted a pre-tax profit of RM194.3 million for the first quarter ended March 31, 2016 on the back of a RM908.5mil revenue. - Bernama
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