Matrix Concepts plans RM1.6bil new launches in FY19

KUALA LUMPUR: Property developer Matrix Concepts Holdings Bhd is targeting RM1.6bil worth of new property launches in FY19 on the back of resilient demand from homebuyers.

It said the new launches would be situated mainly in its township developments, namely Bandar Sri Sendayan (BSS) in Negeri Sembilan and Bandar Seri Impian (BSI) in Johor.

The Group will also be launching its first high-rise serviced apartment in Kuala Lumpur - Chambers Kuala Lumpur - in the second half of 2018.

“Looking ahead, we are well-positioned to make the next big leap in our development profile with the upcoming launch of Chambers Kuala Lumpur, our first in the city centre,” the group’s chairman Datuk Mohamad Haslah Mohamad Amin said in a statement.

In FY18, Matrix Concepts achieved record revenue and net profit of RM818.5mil and RM213.3mil respectively, its best performance since listing in 2012.

As at March 31, 2018, the Group had RM2.6bil in ongoing developments, while unbilled sales climbed to RM1.1bil.

“We are positive on demand for homes in Bandar Sri Sendayan, especially with the growing number of Klang Valley buyers for our launches.

“This is attributed to the township’s vast appeal in terms of affordability, pricing, and locality, which are highly important qualities to a successful development,” he added.

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