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SCP Property targets RM200m to RM300m in gross profits
Jul 13, 2012
SCP Property Services Sdn Bhd targets a gross profit of between RM200 million and RM300 million from eight current and future projects, according to a report by Bernama.
"On a conservative perspective, we anticipate a minimum of 20 percent profit margin from each project, depending on the cost of the land and the construction period," said Ahamad Latib, Director at SCP Property Services.
Calvin Low, Executive Director at SCP, noted that the company intends to acquire more land in Johor, Penang, Kota Kinabalu and the Klang Valley.
"Our landbank size is currently 36.84 hectares (91.03 acres), which has already been utilised for ongoing and future projects, mainly in the Klang Valley and Kota Kinabalu areas."
In 2013, projects to be launched in Kota Kinabalu include the Inanam 2 mixed-development with a gross development value (GDV) of RM150 million and the 96 guarded terraced houses at Damaisari, Kolombong with a RM90 million GDV.
This year, SCP will also unveil its RM140 million residential condo development at Cheras, Kuala Lumpur and the RM100 million terraced home project at Menggatal, Kota Kinabalu.
The company is also witnessing high take-up rates for its on-going projects, such as the Dataran Wangsa development, which is already sold out.
Scheduled for completion in Q3 2013, SCP's commercial project, the Centro in Shah Alam, has also seen a take-up rate of 80 percent.
Low added that the "industrial showroom shopoffices development, Inanam Capital, is expected to be completed in 2014 and is already 85 percent sold."
Furthermore, SCP's 29 units of three-storey terraced bungalows at Damaisari project in Wangsa Melawati, has attained a take up rate of 75 percent.