KUALA LUMPUR: Main Market-listed construction company Pesona Metro Holdings Bhd
continues to see resilient demand for its affordable and mid-range homes, with recent projects recording take-up rates of about 90% amid cautious buyer sentiment and preference for well-located, quality developments.
Managing director Wie Hock Beng said the Covid-19 pandemic was a turning point for the group, which highlighted the importance of having diversified income streams.
“Fortunately, our concession business provided a degree of recurring income during those difficult years, but relying on two business pillars alone was not sufficient,” he said at a briefing following the company’s AGM yesterday.
Pesona Metro’s concessionaire division generated RM11.8mil of profits and RM28.9mil of revenue in the financial year 2025 (FY25), backed by stable recurring income from a long-term student accommodation concession arrangement at Universiti Malaysia Perlis.
Meanwhile, Pesona Metro’s property development segment also recorded profits of RM43.3mil and revenue of RM194mil.
The group noted that its flagship development REN Residensi achieved a total gross development value of approximately RM810mil, alongside an 80% take-up with construction at 42.9% completion at FY25 year-end.
“Given our extensive experience in the construction sector, property development was a natural progression for us.
“Combined with our construction background, we had a competitive advantage to optimise design efficiency, construction planning and cost management, ultimately creating better value for homebuyers,” Wie said.
He credited the group’s strong mid-market positioning to developments averaging around RM650 per sq ft, supported by healthy demand.
“Our 1,260-unit project has achieved a 90% take-up rate, with the remaining units largely comprising bumiputra allocations pending release approval.
“We believe the strong response reflects the right mix of location, product quality and pricing.
“Similarly, another project of over 2,500 units recorded a 95% take-up rate within six months of the launch,” he said.
Additionally, Wie attributed the strong take-up of the group’s mid-tier and affordable housing projects to its spacious layouts, quality design and liveability features that set its developments apart from peers.
“Our units are approximately 900 sq ft, which is larger than many comparable developments, and includes features such as balconies which can cost between RM5,000 and RM8,000 per unit to build,” he told StarBiz.
Wie pointed out that while some first homebuyers still face financing eligibility, the recent government initiatives offering up to 100% financing have helped improve accessibility to homeownership.
He said the company remains confident on its land replenishment strategy and contract replenishment target.
“Our RM2bil tender pipeline means we only need to secure two or three projects to achieve our RM500mil target, while growing market recognition is creating new opportunities for land acquisitions and joint venture developments,” he further explained.
