UEM SUNRISE EYES RM500M SALES FROM NEW CAMPAIGN

Developer confident latest campaign will help it achieve up to RM500m in sales

UEM Sunrise Bhd, which is targeting RM1.2 billion in property sales this year, expects to derive more than a third of its target from the newly launched “Signature Selection: Road to Russia 2018” campaign.

Managing director and chief executive officer Anwar Syahrin Abdul Ajib said the company targeted sales of between RM300 million and RM500 million from the campaign, which ends on November 30.

The “Signature Selection: Road to Russia 2018” campaign will feature properties priced from RM405,000 to RM2.993 million.

He said although the bulk of the properties on offer were in the higher price range, he was confident of their take-up rate.

“We are offering rebates and other goodies during the campaign. We are also offering several ownership schemes, including the EASY Own Plan, and hope to attract first-time buyers, upgraders and owner-occupiers.

“We feel that the timing is right. Despite the market’s uncertainty, people will buy (a property) if there is a good package.

“This campaign will also attract foreigners as the price range of RM1 million to RM3 million is considered cheap to them, especially Singaporeans, who have previously bought our properties in Johor, the Klang Valley and Australia,” said Anwar.

The house ownership campaign, which is held in conjunction with next year’s FIFA World Cup in Russia, will feature UEM Sunrise properties in the central and southern regions.

Meanwhile, UEM Sunrise said new property launches in Malaysia and overseas this year worth RM1.7 billion would also contribute to the sales target.

Last year, the company revised its RM1.5 billion sales target to RM1 billion due to weak market sentiment, but ended up achieving RM1.4 billion as demand picked up in the central region and Australia.

For the first quarter ended March 31, net profit rose to RM61.3 million compared with RM3 million in the previous corresponding period. This was due to higher revenue from property development and the revision of the estimated cost for completed projects.

Revenue rose 110 per cent to RM541.8 million from RM257.75 million previously.