S P Setia. Hits RM3.13 billion in revenue. Launching RM2.17 billion GDV more.

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I think these days, most if not all developers are focusing on launching projects which are deemed sellable while changing or delaying those deemed more expensive. The current sentiment does not allow for an extra RM50,000 into the final selling price. Never mind that RM50,000 based on a 30-year loan is a mere RM250 extra in monthly mortgage, or lower. Now’s the time to be as competitive as possible.

Smaller sizes, single storey instead of double-storeys, slightly further (with cheaper land), slighty lower profit margins and more. All these would be relevant strategies to ensure buyers continue to buy and homes continue to be sold so that construction can continue too. It’s definitely not an easy time, even for many established developers which are among the largest in the country.

Article in edgeprop.my S P Setia Bhd is planning to launch projects worth RM2.17 billion in gross development value (GDV) over the last quarter of its financial year 2019 (FY2019) ending Dec 31, 2019. For the first nine months of 2019, S P Setia stated that it has achieved RM3.13 billion in revenue and RM508.8 million profit before tax (PBT).

For the remaining months of FY2019, S P Setia is planning to launch projects worth a total RM2.17 billion in GDV, bringing the total launches for FY2019 to RM4.88 billion. These launches will be landed properties in established townships of the Klang Valley and Johor Bahru, such as Setia Alam, Setia Eco Hill, Setia Eco Templer, Setia Eco Park, Bandar Kinrara, Alam Impian, Setia Eco Garden and Setia Tropika.

Its President and CEO Datuk Khor Chap Jen said, “Amid the challenging landscape of a subdued property market, the strategy is to launch more mid-range landed properties in the group’s flagship townships where the underlying demand by owner-occupiers is still favourable.” Article in edgeprop.my

I think it’s quite important to look at the top few developers for a better outlook of the property market. Do note that Datuk Khor has said that the strategy is to launch more mid-range properties. In other words, the market continue to be able to accept these mid-range priced properties and launches are definitely continuing. GDV of RM2.17 billion is a big launch yeah. Definitely not a small one. Briefly, for the market, S P Setia has a positive feel yeah.

Happy dropping by the many projects which meets your expectation.

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