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Friday, June 20, 2008

Sime expects RM10b in property sales

SIME Darby Bhd’s property unit said nine developments near Kuala Lumpur may generate as much as RM10 billion (US$3.1 billion) in sales in the next five years.

This year’s revenue from the projects, which include the Ara Damansara and Bukit Jelutong developments, might reach RM2 billion, Abd Wahab Maskan, managing director of Sime Darby Properties, told reporters today.

He also said that Sime Darby Properties will not be deferring launches of new projects despite higher costs.

Sime Darby is also the world’s largest palm oil producer. -

By Agencies / By New Straits Times

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