Land bank replenishment

Sunway Group, Mah Sing Group Bhd and UEM Sunrise Bhd, with their relatively low net gearing, have each entered into two land acquisition deals respectively year-to-date.

THE pandemic might be having an adverse impact on the property sector, but this has not stopped developers, especially those with strong balance sheets, from actively acquiring more land.

An analyst with a local bank-backed brokerage points out that land acquisition, especially during a downturn, is evidence that developers are optimistic that the market will recover.