Sime Darby Property announced stronger-than-expected quarterly results, with impressive new sales figures, signaling a recovery in the property market.
Sime Darby Property announced encouraging latest quarterly results on Monday, with new sales exceeding market expectations, reaching RM1.2 billion, significantly higher than RM950 million in the same period last year. This strong performance was primarily driven by sustained demand for its key township projects in Selangor and Johor. The company also unveiled aggressive land development plans to meet growing market demand. Analysts generally believe that Sime Darby Property's results indicate a gradual recovery in the Malaysian property market, especially in affordable housing and strategically located projects. The company's stock price rose 2.5% to RM0.82 following the announcement.
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