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Sime Darby Property to rollout RM2.5b worth of projects in 2021

PETALING JAYA (Feb 25): Sime Darby Property is eyeing to launch projects with a gross development value (GDV) of RM2.5 billion this year,  including a product mix of landed and high-rise residentials, as well as industrial and commercial offerings.

In a media statement today, the company also said this year’s sales target of RM2.4 billion is higher than its full year revenue of RM2.1 billion in financial year 2020.

Sime Darby Property Group managing director Datuk Azmir Merican (pictured) said the company’s focus will be on restoring the profitability to achieve the sales target for 2021.

“We have identified areas where we can further harness business opportunities amidst the ongoing pandemic, and are stepping up our customer experience efforts to meet customers’ needs for homes with the right price and sales experiences that are safe and convenient,” he added.

Key launches this year under the industrial and logistics segment include new phases in Elmina Business Park comprising 303 industrial units and 78 commercial units with a GDV of RM1.26 billion in the second quarter of the year. 

Sime Darby Property will also expand product offerings to include its first multi-tenant ready built warehouse with a GDV of RM530 million in Bandar Bukit Raja Industrial Gateway.

Under the residential segment, the company will unveil the luxury high-rise Jendela Residences in March. This development is located in the flagship KLGCC Resort township, with a GDV of approximately RM900 million.

This will be the first of the Group’s residential high-rise projects to be launched in 2021, which will diversify Sime Darby Property’s residential product mix.

According to the media statement, the company’s financial position remains resilient, underpinned by cash balances of RM801.8 million, healthy unbilled sales of RM1.58 billion and low net gearing ratio of 0.28 times as at Dec 31, 2020, as well as bookings of RM0.8 billion as at Feb 14, 2021.

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