Naza TTDI Sdn Bhd, which recorded its best performance in five years recently with sales of RM815 million, is lowering the target this year, amid weak consumer sentiments.
The company was targeting RM745 million in sales from several projects in the Klang Valley this year, said executive director and chief operating officer Datuk Idzham Mohd Hashim.
The projects include the Met 1 component in KL Metropolis; an en-bloc office tower, and the mixed-use TTDI Sentralis development in Shah Alam.
The company will also be launching TTDI Ayana, its latest residential development in Selangor, at Kwasa Damansara. The launch of TTDI Ayana, which is a luxury development, will take place in the third or fourth quarter of this year.
With a gross development value of RM400 million, the project spreads across 5.14ha on a former rubber plantation.
TTDI Ayana will feature 212 units of condominiums and 112 units of town villas, with built-up areas of 1,421 to 3,090 sq ft.
Residents will enjoy resort living experience in TTDI Ayana as 55 per cent of the land is devoted to on-ground vegetation.
Idzham said in spite of the lower sales target for this year, the company was looking forward to a buoyant year ahead.
Naza TTDI was confident of the future as it had RM1 billion worth of unbilled sales, also the first high for the company, which would help it stay ahead, he said.
The company is expecting a healthy financial performance for this year as internal measures remain intact to ensure market sustainability.
Idzham believes there would be an incremental pick-up during the second half of the year, especially with market demand from the middle-income group.
“We have a growing middle class in Malaysia that would require homes in the coming years. Although the property market is competitive, developments with good location and design would be able to reap greater success.
“We are now focused on markets with developments in the right location, have innovative design and offer better value for our customers,” he said.