PETALING JAYA: Sime Darby Property Bhd hopes to maintain its 28 per cent profit margin for its current financial year ending June 30, 2010, said Managing Director Datuk Tunku Putra Badlishah Tunku Annuar.     

"The margin is among the best in the industry," he said, adding that lady luck has been with Sime Darby Property as all its launches have had good sales. "All our recent launches have been very successful, with 80 per cent sales rate within three months of launch," he said after unveiling its high-end property development in Ara Damansara named "Seri Pilmoor" on Friday March 12.

It has at least one new property launch lined up in the next six months. Sime Darby Property contributes about 12 per cent in profit to the group. "We hope to grow that. We were No. 1 in terms of profitability in the overall property industry and we hope to maintain that as well," he said.

On possible joint ventures for property development, Tunku Putra said: "Given the size of our land bank and the strategies that I have outlined, many companies that have approached us."

The company had negotiations with several interested parties, but he declined to name the companies that are in negotiations now.Sime Darby Property has the largest land bank in the country, totalling 36,000 acres. -- Bernama