The division’s executive vice president of property development and strategic investments Datuk Tunku Putra Badlishah said yesterday that the unit aimed to be the country’s largest property company and hoped to make a larger contribution to the group’s total earnings from the 5.9% in its financial year ended June 30, 2007.
In terms of landbank, he said the company, being the largest property company, would optimise the land with plans to use 3,642ha over the next five years.
Speaking to reporters after the launch of its Royale Palms Villas high-end residential development project here, Tunku Badlishah said the total GDV for all its projects currently under planning was RM18 billion.
The Royale Palms Villas, located on the 727ha Putra Heights mixed development site, comprised 36 units of premium and guarded community villas with a built-up area of between 4,170 sq ft and 4,900 sq ft, and a GDV of RM55 million, he said.
The residential project is the first to be launched since the re-listing of Sime Darby Bhd.
He said the company targeted a 50% take-up rate of the properties within six months, with most purchasers expected to be customers of its previous projects.
“The collection of Royale Palms villas is our first roll-out of luxury homes as part of our new focus on the higher-end segment of the property market to meet the demands of the increasingly affluent and lifestyle seeking homebuyers,” he said.
Tunku Badlishah said the focus on the development of high-end properties was also part of Sime Darby Property’s strategy going forward following the consolidation of Sime UEP Properties Bhd, Sime Darby Property, Guthrie Properties Development Holdings Bhd and Negara Properties (Malaysia) Bhd.
By The EDGE MALAYSIA (by Ellina Badri)
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