Sime Darby Property targets sales of RM2.5 billion in FY2017
KUALA LUMPUR: Sime Darby Property Bhd, the property arm of Sime Darby Bhd, targets higher sales of RM2.5 billion for its financial year ended June 30, 2017 (FY17) compared with RM2 billion in FY16.
Its managing director, Datuk Ir Jauhari Hamidi, said for the first quarter of FY17, the company launched 550 units and received an encouraging take-up rate of 70 per cent.
“In our view, there is still demand for properties.
This is so long as there are right properties, right location, right developer and right collaboration,” he said.
He said this at the signing ceremony between the company and Turner International, an international construction services company yesterday.
Jauhari said the company might launch about 20 to 30 products but this would depend on the readiness of the projects.
On the agreement, he said, Turner would become its consultant for high-rise developments in terms of the design, quality and delivery of a number of projects.
“This partnership will further enhance our vision of becoming the number one sustainability developer in the country and beyond.
“The initial projects that Turner will collaborate with us include our development – Cantara Resi- dences in Ara Damansara, Quarza Residence in KL East and Jendela in Alya Kuala Lumpur (adjacent to Taman Tun Dr Ismail),” he said.He said prior to the signing ceremony, both parties had been in discussions for over a year ago.
Cantara Residences and Quarza Residence were launched in May this year with a gross development value (GDV) of RM676.04 million and RM700 million, respectively, he said.
Jauhari said Jendela was expected to be launched in April 2017.
Turner’s president/chief executive officer, Abrar Sheriff, said it has worked in over 60 countries since 1965, featuring notable projects including Burj Khalifa in Dubai and Taipei 101 in Taiwan.
“The Sime Darby PropertyTurner team will combine 40 years of development expertise with 115 years of construction experience around the globe.
“Our goal is to set the standard for high quality, sustainable, residential developments in Kuala Lumpur,” said Abrar.
The New York-based Turner, which focuses on management structure for building projects, currently manages projects worth over US$50 billion (US$1 = RM4.45). — Bernama