“While we are optimistic about the recovery, we are exercising prudence in our operations, and expect a gradual recovery for the sector, as property is a crucial investment decision. As such, people need time to make the (buying) decision, ” said its managing director Datuk Azmir Merican, who came into office in April.
KUALA LUMPUR: Sime Darby Property Bhd
(SDP) expects the property market to see gradual recovery, driven by the government’s stimulus packages such as the Home Ownership Campaign 2020 and lower borrowing costs.
The property developer, which was affected by the movement control order (MCO), has slashed its sales target this year by 30% to 40% to RM1.4bil in light of the softening economic environment that could drag big ticket item purchases.
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