Sime Darby targets RM1.2b sales from campaign

KUALA LUMPUR: Sime Darby Property Bhd aims to generate RM1.2 billion sales from the first phase of its Lifestyle Collection campaign featuring 1,800 residential and commercial properties in 10 townships in the Klang Valley and Nilai, Negeri Sembilan.

The townships include Bandar Bukit Raja 1 and 2, Bukit Jelutong, USJ Heights, Putra Heights, Subang Jaya, Ara Damansara, Melawati and Denai Alam.

Managing director Datuk Wahab Maskan said the sales achieved from the campaign will contribute towards achieving its sales target of RM 2.4 billion for its current financial year ending June 30, 2012.

The Lifestyle Collection is an enhanced initiative of the Parade of Homes campaign introduced in 2008 and the subsequent ones organised till 2011. “The Lifestyle Collection will showcase the unique propositions of all our products,” Wahab said at the launch of the Lifestyle Collection showcase yesterday.

“It will inspire home buyers and provide investors the opportunity to discover the potential of a Sime Darby Property product and its value appreciation.”

Wahab (in dark jacket) touring the exhibition gallery where buyers will be able to see all Sime Darby projects in the Lifestyle Collection showcase under one roof.

On talk that 2012 will be a challenging year for the property sector, Wahab, who is also group COO of Sime Darby Bhd, remains optimistic. “The market is generally strong,” he said, adding that “properties especially in good locations, with good quality and backed by reputable developers, will do well in the market.”

“The fundamentals of the Malaysian economy remain intact and green shoots of recovery are visible in the global economy, which bodes well for investments in the property sector,” he said. “The government and financial institutions are also still supportive of the industry.”

Under the Lifestyle Collection campaign, incentives for buyers include low initial payment of 1%, cash incentives up to RM10,000, no interest payment during the construction period, and stamp duty and legal fees borne by the developer.

For the first six months of its financial year, the company has already achieved a gross sales value of about RM1.2 billion.

Wahab said the developer is looking to increase its overseas landbank and is targeting destinations such as London, Singapore and Australia. Its current landbank is about 37,000 acres.

Home buyers and investors can view all of the developer’s products at a large-scale exhibition gallery in Oasis Square, Ara Damansara, till April 15 after which visitors can go to the selected township sales galleries for more information on the products. The showcase is held from today until end-April.

This article appeared on the Property page, The Edge Financial Daily, March 30, 2012.

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