KUALA LUMPUR: Matrix Concepts Holdings Bhd expects its property sales to reach RM1.2 billion in FY23, spurred by the continued strong take-up rate of its products, particularly at its flagship Bandar Sri Sendayan township, as well as due to the lesser threat of Covid-19 operational closure.
Matrix Concepts believes it is well-positioned to register a solid performance this financial year; the new property sales target also corresponds with the performance reported in its recently-concluded financial year 2022.
As at Q3’22, the group achieved 83.2% of its FY22 new property sales target amid restricted operating conditions and slower than expected domestic economic recovery, it said in a statement.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the group has showed resilience in the last two years in withstanding the pandemic and achieving solid sales and financial performances.
“We must now move on from the pandemic and the group is ready to return to our sustainable growth trajectory. These will supplement the robust and growing demand at our townships which we have been enjoying in recent years and allow us to be cautiously optimistic of another solid year at Matrix,” he said at the group’s MetaRaya Iftar media event in Kuala Lumpur on Thursday.
The group’s Bandar Sri Sendayan has been riding on the growing trend of Klang Valley folks shifting to Negeri Sembilan, enticed by its connectivity to various parts of Klang Valley.
Additionally, homeownership in Seremban is a lower-cost alternative as house prices in Klang Valley is increasingly becoming out of reach for most.
Internationally, M. Greenvale, the group’s ongoing development in the suburbs of Melbourne is expected to complete in May 2022.
The group will also launch its next Melbourne development, the AU$80 million 333 St Kilda in the middle of this year. The 12-storey mixed development is the group’s biggest Australian development to date.
As for development in Indonesia, it will launch more projects in the Pantai Indah Kapuk 2 area, an international waterfront township where construction of the RM1 billion Menara Syariah is currently ongoing. The project is expected to complete in FY23.
“We will be expecting earnings contributions from our sold-out second Australian development, M. Greenvale, while our Indonesian venture is going well with the encouraging execution of Menara Syariah, which is slated for completion at the end of FY23,” Mohamad Haslah said.
He added that the group will be seeking opportunities for collaboration to further strengthen its value proposition as well as securing quality land for developments in FY2023 as part of its growth strategy.