Optimism building up in sector

Both Tambun Indah Land Bhd and Sime Darby Property Bhd’s 2020 actual sales were above expectations, while S P Setia Bhd and Mah Sing Group Bhd met their targets.

PETALING JAYA: Property developers are turning more positive, as sales continue to recover from the impact of the Covid-19 pandemic despite the movement control order (MCO) earlier this year.

Maybank Investment Bank Research (Maybank IB) in a report yesterday said most developers expect a better sales outlook for 2021, adding however that it may come at the expense of lower margins due to reduced pricing.