UEM Sunrise sees declining property sales

TheStar Thu, Mar 21, 2019 08:16am - 5 years View Original


KUALA LUMPUR: Property developer UEM Sunrise Bhd expects to record a lower property sales target of RM1.2bil in the current financial year of 2019 (FY19), amid the challenging property development market.

In FY18, the 66%-owned subsidiary of Khazanah Nasional Bhd reported a total sales of RM1.43bil, which exceeded its sales target by 19% year-on-year.

   

Despite the lower forecast for total property sales in 2019, UEM Sunrise managing director and chief executive officer Anwar Syahrin Abdul Ajib remains positive on the group’s outlook, led by the sales in its existing projects and the new launches.

Speaking to reporters at the sidelines of the Invest Malaysia event yesterday, Anwar said UEM Sunrise is expected to record stronger financial results in the current FY19.

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