KUALA LUMPUR: The property arm of Naza Group, Naza TTDI Sdn Bhd, has achieved RM1 billion in unbilled sales despite the overall weak consumer sentiments.
Naza TTDI executive director/chief operating officer Datuk Idzham Mohd Hashim said the company expects a healthy financial performance this year, citing that internal measures remain intact to ensure market sustainability.
"To date, we have RM1 billion unbilled sales that will help us stay ahead in this competitive environment,” he said in a statement today.
He added the achievement was the company’s first RM1 billion sales and 2017 was its strongest sales performance in five years.
“We had achieved RM815 million in sales for 2017. For this year, Naza TTDI has a minimum sales target of RM745 million.
“We will focus on sales from the Met 1 component located in KL Metropolis; an en-bloc office tower; TTDI Sentralis, a mixed-use development located in Shah Alam and from the soon to be launched TTDI Ayana, a residential development,” said Idzham.
He said the TTDI Ayana is expected to be launched in the second half of 2018 with gross development value (GDV) of RM400 million.
Themed sustainable living, the upcoming development is located at Kwasa Damansara, Shah Alam.
TTDI Ayana sits on a 12.7-acre undergoing transformation into a luxury development comprising 212 condominium units and 112 townvillas, ranging from 1,421 sq ft to 3,090 sq ft.
Residents of TTDI Ayana will enjoy the resort living experience with 55 per cent of the land devoted to on-ground vegetation.
On the property market outlook, Idzham said there was likely to be an incremental pickup during the second half of 2018, nothing that there is still market demand particularly from the middle-income group.
“We have a growing middle class in Malaysia that would require homes in the coming years. Although the property industry is competitive, developments with good location and design would be able to reap greater success.
“We are now focused on going to market with developments that have the right location, innovative design and offer better value for our customers,” Idzham added.
He said Malaysia’s socio-economic condition was stable enough to sustain its competitive edge in the current soft economy, following the average gross domestic product (GDP) growth of 4.78 per cent from 2000 to 2017.