PETALING JAYA: More developers are turning optimistic on the local property market amid positive news flow on potential infrastructure projects, active land transactions and influx of investments.
RHB Investment Bank noted that major developers – except for UEM Sunrise Bhd
, Sime Darby Property Bhd and S P Setia Bhd – are guiding for sales targets that are 10% to 15% higher year-on-year for financial year 2024 (FY24).
“Although UEM Sunrise has set a lower sales target of only RM1bil compared with RM2.1bil achieved in FY23, we think the company may have something more exciting ahead.
“This is as management just revealed its revised master plan for Gerbang Nusajaya in Johor that saw a significantly higher proportion of industrial development,” said the research house in a report yesterday.
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