Lagenda Properties Bhd managing director Datuk Jimmy Doh.
PETALING JAYA: Geographic expansion will remain a key strategic pillar for Lagenda Properties Bhd
, as the property developer continues to scale up its affordable housing footprint nationwide.
Group managing director Datuk Jimmy Doh said the company is actively evaluating land opportunities across multiple regions, including Sabah and Sarawak.
Doh emphasised that there would be “a clear emphasis on disciplined execution, local stakeholder engagement and alignment with regulatory authorities” as Lagenda embarks on its expansion drive.
“Comprehensive feasibility assessments will underpin any expansion to ensure developments remain commercially viable, genuinely affordable and socially sustainable,” he told StarBiz.
Doh said the Johor–Singapore Special Economic Zone (JS-SEZ) represents a particularly compelling growth catalyst for the group.
“As economic activity intensifies within the JS-SEZ, we expect a natural uplift in housing demand, especially for affordable homes catering to the Malaysian workforce.”
Heading into 2026, Doh expects the real estate market to remain stable, underpinned by continued support from the affordable and mid-market segments.
“Underlying demand remains resilient.
“Key catalysts include strengthening domestic consumption, improving employment conditions and continued policy support for first-time buyers.
“On the challenges side, we remain cautious about cost inflation, interest-rate volatility, execution risks across multiple active projects and the need to remain competitive on pricing in a more selective market environment.”
Doh expects demand for affordable housing in 2026 to remain structurally strong, supported by owner-occupier demand, favourable demographics and continued government support to improve homeownership affordability.
“While buyers may remain selective, the need for well-priced, quality homes remains intact.
“As a result, we believe the affordable housing segment will continue to be the most resilient part of the market, and this aligns well with Lagenda’s core focus and long-term growth strategy.”
The developer logged record-high quarterly sales in the third quarter ended Sept 30, 2025 (3Q25), with the nine-month sales surpassing the total value of properties sold in 2024.
The company’s confirmed sales across five states continued to gain strong momentum in the 3Q25, with quarterly confirmed sales of RM542.9mil.
Quarterly sales also jumped by 56% year-on-year (y-o-y) from the RM349mil recorded in the same period last year.
In addition, unbilled sales climbed 26% y-o-y to an all-time high of RM1.33bil, offering robust earnings visibility, while total bookings remained healthy at RM543.3mil.
Lagenda’s revenue and profit after tax (PAT) for 3Q25 were recorded at RM254.9mil and RM44.7mil, respectively.
Overall 3Q25 revenue decreased by 10% from RM283.4mil a year earlier, attributable to reduced revenue from the trading segment and external construction projects.
For the nine-month financial period ended Sept 30, 2025 (9M25), revenue was registered at RM758.2mil, slightly higher than the RM754.9mil recorded in the same period last year.
In addition, 9M25 PAT was recorded at RM134.5mil, a marginal 3% decrease y-o-y.
Doh said Lagenda’s 9M25 financial performance was broadly within expectations.
“This is given that our strategic priority this year was focused on accelerating project launches and driving sales momentum rather than short-term earnings optimisation.
“This naturally resulted in higher upfront costs and timing differences in revenue recognition.”
Doh said 2025 was marked by robust take-up rates across its affordable housing developments and the successful execution of multiple project launches in the group’s core markets.
“This reflected the strength of our product positioning and execution capabilities.
“At the same time, we navigated operational challenges, including longer approval timelines at certain stages and disciplined management of construction costs.”
Overall, Doh said Lagenda remains confident that the fundamentals of the affordable housing sector remain intact and continue to provide a strong foundation for the company’s long-term growth strategy.
With sales totalling RM1.21bil in 9M25, Doh said Lagenda is on track to hit its 2025 sales target of RM1.5bil.
“Our unbilled sales have reached an all-time high, while our nine-month sales of RM1.2bil have already surpassed our full-year sales for 2024 – underscoring the strength of our operating momentum in 2025.
“This strong performance is driven by sustained demand for our affordable housing offerings, supported by the timely rollout of well-priced projects, a disciplined land acquisition strategy and consistent execution across our teams.”
