UEM Sunrise lowers target for 2016. Now at RM1.5 billion.

Launching of new properties are getting slightly slower these days. Perhaps that’s because the current ones are still in the market. It certainly takes more effort to sell compared to previously. Some developers are adjusting their targets upwards and some like Sime Darby Property is setting a target of RM3 billion target by Sime Darby Property with new launches I just came back from Havoc Hartanah KL 2016 last weekend and I think many people are really waiting to see if they should buy. These may be those who can get loan approvals versus those who simply tried and failed.
One is taking a more conservative approach. In yet another sign of a slowing property market, a major developer, UEM Sunrise Bhd has revised its sales target to RM1.5bil from RM2bil for 2016. Reported in Starbiz, It’s  managing director and chief executive officer Anwar Syahrin Abdul Ajib said, “It’s rather conservative but we want to be realistic and not over-promise.” For now, it is eyeing land for acquisition in the Klang Valley worth up to RM3 billion. Within 2016, UEM Sunrise will be looking for suitable partners for township projects. They are looking to build another township like a new Mont Kiara.
It is also looking to launch an affordable housing project under the Rumah Selangorku scheme in Bangi with average price of RM250,000 this year. UEM Sunrise owns 4,200ha of land in Nusajaya and is the master developer of Malaysia’s first economic growth corridor in Johor. Nusajaya’s total size is 9,661ha and is one of the flagship zones in Iskandar Malaysia. It is currently building homes, waterfront properties, offices, hotels, factories, hospitals and campuses, in a joint venture with several other developers. Happy following.
written on 20 Apr 2016
Next suggested article: EcoWorld: Has hit Rm3 billion target,aiming at RM4 billion in 2016


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