IJM Land sees resilient property market

KUALA LUMPUR: IJM Land Bhd expects local property market to remain resilient this year, underpinned by stronger demand as younger people were also buying property.

Its managing director and chief executive officer Datuk Soam Heng Choon said on Tuesday, Aug 23 IJM Land would continue to launch projects for its current financial year ending March 31, 2012 due to the strong demand for property.

He said interest rates continue to remain low and attractive for property investments.

The volatile equities market, which had been trending downwards, would also see investors looking at bricks-and-mortar to hedge against inflation besides commodities.

IJM Land's current unbilled sales is just over RM1 billion which would last the group two years. It plans to launch RM2 billion worth of projects in FY2012.

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