Sime UEP Looks to Overseas
Sime UEP are reported looking to abroad and also to launch residential buildings that are more in demand to cope with a lacklustre property market. This was announced recently during their AGM in Petaling Jaya recently. Some of the countries they looking to move into are Australia, Indonesia and Vietnam.
Locally, Sime UEP are the developers of UEP Subang Jaya (USJ), Ara Damansara and Putra Heights.
According to the report in the Star, their MD Jauhari Hamidi said,
Sime UEP would be juggling some of its planned launches, whereby it would bring forward the launch of residential properties in demand and defer the introduction of properties that had flooded the market.
‘’We are trying to launch products in segments that are not saturated,'’ he said, adding that much of the land the company owned or managed in Subang and Ara Damansara was for commercial purposes.
He said the saturated portion of the market was the medium-range segment, where homes were priced between RM200,000 and RM300,00 a unit.
Further one, it was also reported that
Jauhari said Sime UEP had a big land bank but the bulk of it would only be commercially viable for development between five and 10 years.
With only about 1,000 acres suitable for development within the next five years, he said the group was working hard to get more land. For that, it has been in talks with landowners or companies that own tracts of land in suitable areas and has allocated about RM150mil to buy land or companies with land.
For the full report, check out this article.
I am intereted in Ara Damansara. Any advice?
Comment by alkeong — March 12, 2006 @ 10:46 pm
which project?
Comment by Administrator — March 13, 2006 @ 8:04 am
name me a few good ones.
Comment by alkeong — March 16, 2006 @ 11:48 pm
http://www.simenet.com/simeuep/ara-intro.htm
Comment by Administrator — March 17, 2006 @ 8:07 am