, which debuted on the ACE Market at a 12 sen premium of 60 sen with 32.53 million shares traded, will focus on developing landed residential properties in Melaka below RM500,000.
Managing director Richard Teo Lay Ban said there is still steady demand for affordable homes in Melaka.
“We are focusing on landed residential because these units in Melaka are one of the lowest throughout Malaysia according to Napic figures.
“Last year, the overhang for residential units in Melaka was 925 units compared with the national average of 3,450 units,” he said during a virtual press conference today.
Teo said the Melaka-based property developer will be developing properties within the RM400,000 to RM500,000 price range, emphasising that these units were “most sellable.”