KUALA LUMPUR: SP Setia Bhd is on track to achieving its sales target of RM4 billion this year after having secured RM2.07 billion in sales for the first half of 2017.
Its president and chief executive officer Datuk Khor Chap said "The sales achieved reflect an increased demand for the Group's projects in the second quarter of financial year 2017.
"This is encouraging as it validatea the strategy we have adopted," he said.
Local projects contributed RM1.08 billion where RM996.5 million were from international projects while local sales secured were largely from the Central region at RM797.3 million and Southern and Northern regions contributed RM278.9 million.
Its strong sales were mainly derived from its Sapphire by The Gardens project in Melbourne which contributed RM799 million with a gross development value of AUD376 million (RM1.24 billion) which saw a takeup rate of 70 percent in June this year.
Other international projects from United Kingdlm's Battersea power station, Vietnam and Singapore contributed the balance of RM197.5 million.
Moving forward into the second half of 2017, SP Setia aims to focus on the local market especially the Central region.
"There is strong underlying demand for owner-occupied mid-range landed properties in strategic locations with good infrastructure, secured and sustained townships especially in Klang Valley.
"Hence we will be emphasising on mid-range landed properties in our townships such as Setia Alam, Setia Ecohill, Setia Ecohill 2, Setia Eco Templer and Setia Eco Glades in the next half of this year," he added.
The prospects for the year remain positive with total unbilled sales of RM8 billion anchored by 31 ongoing projects and effective remaining land banks of 5,452 acres worth RM80 billion in GDV as at June 30th, 2017.