KAJANG: S P Setia Bhd may exceed its RM4.2 billion sales target for the year as it continues to focus on high-demand-driven products such as landed residences in well-known and established areas.
Executive vice president Datuk Tan Hon Lim said aside from the green features offered, any increase in the property sales target for the financial year 2023 (FY23) will depend on the project, location and selling price.
SP Setia consistently achieves the sales target it has set, regardless of how challenging the market is, he told the New Straits Times.
The company is on track to meet its FY2023 sales target of RM4.2 billion after recording sales of RM1.03 billion in the first quarter of 2023 (1Q 2023).
Property sales for the quarter were boosted by local projects to the tune of RM903 million, or roughly 87 per cent, and by international projects worth RM130 million, or 13 per cent.
"Year in and year out, no matter how tough the market is, SP Setia can always achieve the sales target it has set. In fact, we always surpass our sales target. This year, let's assume there is a five per cent rise, that would be roughly RM200 million, but it would put pressure on our sales team.
"However, if we discuss the project's nature, its location, and its green aspects, our sales team loves it because it would make it simpler for them to market the products," he said.
The company's high-demand-driven products include Setia Ecohill 2, Setia Mayuri, Setia Tropika, Setia Alamsari, Setia Fontaines, Setia Alam Impian, Bandar Kinrara, Setia Eco Templer, Setia Warisan Tropika, and Setia Eco Gardens.
Tan said Setia i-Home, SP Setia's latest endeavour to incorporate sustainable features in their future landed homes, is anticipated to increase sales this year.
With Setia i-Home, the company pledges to step up its efforts in environmental, social and governance areas in order to reach net zero by 2050.
Tan said as the importance of sustainable living has increased, SP Setia must adopt new technology that will help it reduce its environmental impact.
SP Setia's next launch will include a smart home system that will allow owners to optimise their energy use by controlling several switches and power plugs using a mobile app.
"Our latest collection of smart and sustainable home elements will be featured in our new landed homes," Tan said.