KUALA LUMPUR: Property developer SCP Property Services Sdn Bhd eyes a total of between RM200 million and RM300 million gross profits from eight of its current and future projects, said Director Ahamad Latib.
"On a conservative perspective, we anticipate a minimum of 20 per cent profit margin from each project, depending on the cost of the land and the construction period," he told Bernama today.
Executive Director Calvin Low said the company plans to acquire land in the Klang Valley, Kota Kinabalu, Penang and Johor.
"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," he said.
Low said the company's projects to be launched in Kota Kinabalu next year include 96 units of guarded terraced houses in Damaisari in Kolombong, with a gross development value (GDV) of RM90 million, and the Inanam 2 mixed development with a RM150 million GDV.
By year-end, the developer will also unveil its RM100 million terraced home development in Bukit Damaisari in Menggatal, Kota Kinabalu and a RM140 million residential condominium project in Cheras, Kuala lumpur.
SCP Property is experiencing good take-up rates for its current projects, with its Dataran Wangsa at Wangsa Melawati showroom shop offices development, due for completion in the fourth quarter this year, fully sold.
Meanwhile, its commercial building project, the Centro in Shah Alam due for completion in the third quarter next year, has seen a take-up rate of 80 per cent.
"Our industrial showroom shopoffices development, Inanam Capital, is expected to be completed in 2014 and is already 85 per cent sold," Low said.
Its 29 units of three-storey terraced bungalows in Wangsa Melawati, the Damaisari development which was officially launched today, have already achieved 75 per cent take-up rates.
"We will strive for 100 per cent take-up rates by year-end, and driven by the interest the units have been receiving, we are confident it is achievable," Low said.
SCP Property is a unit under the SCP Group, which also owns SCP Parking, a company that owns and manages seven car parks sites with a total of about 10,500 car park bays.