Titijaya will keep seeking strategic partnerships
KUALA LUMPUR: Property developer Titijaya Land Bhd will continue to pursue strategic partnership and opportunistic landb ank activities, given the challenging market condition.
The group, in a statement, said it was on the right trajectory to achieve the RM300 million sales target for the financial year ending next month.
Group managing director Tan Sri Lim Soon Peng said the group’s ongoing and upcoming projects and continuous and existing project progress recognition were expected to have a positive impact on its performance, thus allowing it to achieve better results for the financial year 2017.
The group is optimistic of its outlook, backed by strong outstanding unbilled sales of RM471 million and encouraging response to existing projects.
Titijaya has projects with a total gross development value of RM1.8 billion in the pipeline. “Based on our latest preview, the outlook for the property market in Malaysia is turning positive and regaining some buoyancy, especially in the affordable low unit price segment.
“For instance, our 3rdNvenue Embassy Row Project in Jalan Ampang, here, received staggering reception during a private preview session held earlier.”
Meanwhile, the property developer registered a net profit of RM19.2 million in the third quarter for the financial year ending June 30, compared with RM15.2 million recorded in its previous corresponding period. Bernama
Company on right trajectory to achieve