Glomac: Prospects intact, RM8bil GDV inside Klang Valley

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KUALA LUMPUR: Glomac Bhd stays cautious of the lingering impression of COVID-19 on the property market, nevertheless, the corporate’s longer-term prospects stay intact.

Group managing director and chief government officer Datuk Seri Fateh Iskandar Mohamed Mansor stated given the group’s wholesome stability sheet, Glomac is nicely positioned to speed up growth actions by tapping into its robust growth pipeline that has a possible estimated gross growth worth (GDV) of RM8 billion, largely throughout the Klang Valley.

On the near-term efficiency, Fateh Iskandar stated with the easing of financial restrictions, there can be an enchancment particularly for development actions to start and for the group’s gross sales gallery to reopen.

“We imagine our RM580 million unbilled gross sales will present funding visibility, not less than for the subsequent two years, and we’re centered on changing our gross sales of ongoing initiatives and RM282 million price of latest launches within the monetary 12 months 2022 (FY22).

“The brand new launches comprise primarily of landed residential phases throughout the midmarket and inexpensive segments which have continued to garner a strong response,” he advised reporters after the corporate’s thirty seventh annual basic assembly, which was held on-line, as we speak.

The brand new launches embrace Saujana Utama 5 in Sungai Buloh, a residential township with an estimated GDV of RM299 million.

In the meantime, Fateh Iskandar stated to additional spur gross sales, the group is embracing the brand new digital norm the place it offers broadband connectivity and incorporates work-from-home designs in its new launches, together with creating a strong digital advertising and marketing platform to enhance the standard advertising and marketing method.

“Glomac is working carefully with some telecommunication corporations to supply higher broadband and higher Wi-Fi connectivity within the medium to longer-term,” he stated. – Bernama



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