Matrix Concepts targets RM1.2b sales for FY2023

KUALA LUMPUR (Apr 25): Property developer Matrix Concepts Holdings Bhd is expecting some RM1.2 billion worth of sales in FY2023, as reported by The Sun Daily yesterday.

This is on the back of the developer recording strong take-up rates of its products, especially at its flagship Bandar Sri Sendayan township in Negeri Sembilan, as well as a lesser threat of a Covid-19 operational closure. 

This new sales target corresponds with the performance reported in its recently-concluded FY2022 in March. As at 3Q2022, the developer recorded 83.2% of FY2022’s new property sales target despite restricted operation conditions and slower-than-expected domestic economic recovery, it said in a statement. 

“We must now move on from the pandemic, and the group is ready to return to our sustainable growth trajectory. This 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,” Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said at the group’s MetaRaya Iftar media event on Thursday, adding that the group has shown resilience amid the pandemic whilst achieving solid sales and financial performances. 

Meanwhile, internationally, Matrix Concepts will be launching its next Melbourne development 333 St Kilda – its largest Australian development to date – in the middle of the year. The current ongoing development in the Melbourne suburbs, M. Greenvale, is expected to complete in May 2022. 

In Indonesia, the group will be launching more projects in the Pantai Indah Kapuk 2 area – an international waterfront township – with the ongoing construction of the RM1 billion Menara Syariah that is expected to complete in FY2023. 

“We will be expecting earning contributions from our sold-out second Australian development, M. Greenvale, while our Indonesian venture is going well with the encouraging execution of Menara Syariah,” said Haslah.

As part of the group’s growth strategy, he added the group will be securing additional land for developments in FY2023 as well as seeking opportunities for further collaboration to strengthen its value proposition. 

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