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Friday, November 14, 2008

Sime Darby Property doubles sales target

KUALA LUMPUR: Sime Darby Property Bhd is doubling its sales target to RM200mil for the second instalment of its Parade of Homes fair, but is cautious about the property outlook going forward.

Managing director Tunku Datuk Putra Badlishah said new launches and sales targets for its current financial year ending June 30 (FY09) would be reviewed constantly due to the current downbeat economic situation.

From left: Tunku Datuk Putra Badlishah and RHB Bank retail head Renzo Viegas launching the second instalment of the Parade of Homes.

He said the company’s sales target for FY09 was a “moving target” and that given the current situation, the company was cautious about new launches.

“We’ll be focusing on what we have right now and if there are any new launches, there will be a lot of pre-sales done before we make a commitment to launch,” Tunku Putra said.

The sales target for the second instalment of Parade of Homes had been doubled to RM200mil due to the longer sale period, he added.

The total value of properties for the current sale is RM500mil.

The first instalment of the Parade of Homes in June generated over RM248mil in sales. The company had a sales target of RM100mil then.

“We were pleasantly surprised by the take-up rates in June when the market was quite weak,” Tunku Putra said.

The current instalment of the Parade of Homes is being held from today until Dec 15.

In conjunction with the sales launch, Sime Darby Property is working with RHB Bank to offer financing under the “RHB Unique Financial Solutions” packages as well as a guaranteed buy-back scheme for purchases during the sales period.

By The Star

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