SP Setia maintains sales target despite challenging outlook

KUALA LUMPUR (April 30): Property developer, SP Setia Bhd is not only maintaining its sales target of RM4.55 billion for 2020 but is also confident of retaining its pole position in Malaysia despite a challenging economic outlook amid the ongoing Covid-19 outbreak.

In its Integrated Annual Report, the group said the projection would be backed by the 48 ongoing projects and total unbilled sales of RM10.67 billion, while at the same time leveraging on the versatility of its product offerings.

However, this is barring any further escalation of impact from the pandemic and further extension of the Movement Control Order which would affect business, it said.

The group said SP Setia would continue to be cautious, versatile and position its launches to serve the underlying demand for owner-occupier products such as mid-range landed properties and products that would enhance the value of a township.

“The group is also taking strides to position itself with product offerings that meet market demand, with emphasis on launches of landed residential properties in its established townships where there is a sustainable demand for owner-occupier products.

“Being resilient and able to meet this demand allow us to be in a better position than others to emerge from the current downturn on a stronger footing,” it said. 

The group added it would launch commercial products such as shop lots in Alam Impian, Kota Bayuemas, Temasya Glenmarie, Setia Eco Glades and Taman Pelangi as these commercial products are essential to support and scale up the existing development mix and to ensure the sustainability of these housing areas.

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