Weekly Industry News

Developers have mixed views on property sector`s outlook in 2020

Weekly Industry News

With the final reporting season for 2019 just concluded, most developers were able to provide guidance to investors on the outlook for the local property sector in 2020.

At its briefing on Thursday, Sime Darby Property Bhd revealed that it is setting a conservative sales target of RM2.3bil for 2020, the same amount it had set the year before.

This is despite the fact that the company had surpassed the RM2.3bil-mark last year, having achieved total sales of RM3.1bil.

Sime Darby acting group chief executive officer Datuk Wan Hashimi Albakri expects a tough year for property developers in general this year.

“We anticipate a soft, challenging market. With everything that’s happening at the moment, we expect sentiment to be affected, ” he told a press conference.

Media Title: The Star

Date: 29 Feb 2020

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