Sime Darby Property and SP Setia today released encouraging sales figures, boosting market confidence in the property sector. Both companies benefited from new project launches and a resurgence in homebuyer demand.
Malaysia's two major property developers, Sime Darby Property Bhd (SIMEPROP) and SP Setia Bhd (SPSETIA), today announced strong sales performances, injecting vitality into the long-subdued property sector. Sime Darby Property reported an 80% take-up rate for its latest township project within the first week of launch, while SP Setia reported sales exceeding expectations for its projects in Johor and the Klang Valley. These positive figures indicate that despite challenging economic conditions, homebuyer demand persists, particularly for strategically located and reasonably priced projects. Analysts suggest that with gradually recovering consumer confidence and continued government support for affordable housing, the Malaysian property market is poised for a more significant recovery in the second half of 2026. SIMEPROP shares rose 2.1% to RM0.73, and SPSETIA gained 1.8% to RM0.85.
Share: