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Friday, November 14, 2008

Sime Darby Property sweetens home campaign

SIME Darby Property Bhd expects its second property campaign to record RM200 million sales during the month-long event.

It is targeting a lower sales figure than its first campaign in June, which generated RM248 million sales, amid the current uncertain market conditions.

The "Parade of Homes" will run from today until December 15. Properties for sale will be featured at Sime Darby sales galleries and show units at all its 10 townships.

Sime Darby Property managing director Datuk Tunku Putra Badlishah Tunku Annuar said the RM200 million figure was a conservative target.

"We have RM500 million worth of properties on sale, which are in different stages of construction. Some have just been launched.

"For residential properties, prices range from RM160,000 to RM2 million," Tunku Badlishah told a news conference after the launch of the campaign in Kuala Lumpur yesterday.

Also present were Sime Darby property development head Tengku Ab Aziz Tengku Mahmud and RHB Bank Bhd retail head Renzo Viegas.

The properties range from affordable to high-end homes and landed to high-rise in townships like Subang Jaya, Bukit Jelutong, USJ Heights, Bandar Bukit Raja, Ara Damansara, Denai Alam, Melawati, Nilai Impian, Planters' Haven and Putra Heights.

Tunku Badlishah said that Sime Darby Property's "Guaranteed Buy Back" (GBB) scheme coupled with RHB Bank's financing packages would make it attractive to buy properties during the campaign.

"Under the GBB scheme, Sime Darby Property will buy back the property purchased during the campaign period if the purchaser decides not to proceed with the purchase," he said.

Meanwhile, Viegas said that RHB Bank's innovative financing will give customers more flexibility and allow them to better manage their cash flow.

The advantages include not having to pay interest during the construction period, up to 90 per cent financing and paydown payment through existing property financing.

By Business Times (by Hamisah Hamid)

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