Gamuda Land, the property arm of Gamuda Bhd, has set its financial year 2020 (ending July 31) sales target (both local and overseas projects) at RM4.5 billion, higher than the RM4 billion target set for FY19.
"Last year we were able to secure RM3.1billion in sales. For the past four years we have recorded a CAGR (compound annual growth rate) of 27%. This year (FY20) we are targeting RM4.5billion in sales," Gamuda Land COO Aw Sei Cheh told reporters at the launch of its new mobile app Gamuda Land Mobile (GL Mobile) today.
"We have high expectations. With our strong track record, we remain positive and are confident of achieving the target," he added.
Nevertheless, he said the local property market remains challenging and developers need to be more creative as buyers nowadays have abundant choices. "We need to differentiate ourselves through town-making and place making as well as organising fun and out-of-the-box activities," Aw said.
On another note, the developer said it is testing out the fifth generation cellular network technology at Gamuda Cove, Malaysia’s first Maxis-delivered 5G township.