3 April 2009 - The economic slowdown may be taking a grip on the country, but there doesn't seem to be any slowing down on Sime Darby Property (SDP) part. Recent figures from its Parade of Homes campaign reveal that it has managed to triple its sales in a matter of weeks. According to the devel?oper, the RN186 million worth of sales the campaign garnered by Mar 13 has since ballooned to RM250 million in the most recent stocktake, and the proper?ties sold include those from all 10 of its current ongoing projects in the Klang Valley and Negri Sembilan.

Kicked off during the Malaysia Property Expo on Mar 6, Parade of Homes offers buyers incentives such as easy financing schemes, cash rebates and guaranteed buyback plans for any of the 10 ongoing projects under SDP's stable.

Last year, it ran two simi?lar campaigns in June and November, which generated sales of RM390 million.

Initially, we were hoping to at least equal last year's total sales value ... but at this point, it looks like we may even surpass that, said SDP managing director Datuk Tunku Putra Badlishah.

Although the success of this year's campaign bucks the current economic trend, Badlishah pointed out Parade of Homes is not ignoring the downtrend but catering to it.

We've taken into con?sideration the economic situation and are offering buyers an opportunity to preserve their savings by offering them packages which allow them financial flexibility, better cash flow management and peace of mind, he said, adding that SDP conducted research on focus groups to better understand the needs and concerns of buyers.

The incentives we pro?vide under the campaign are designed to address many of the central con?cerns buyers are facing in this tough period and are aimed at boosting spending confidence.

For example, SDP's guar?anteed buyback programme allows buyers to sell back the property with no ques?tions asked within a speci?fied timeframe.

Although buyers are not expected to do this, Badlishah said the feature reflects SDP's confidence in its products and gives buy?ers that extra nudge by offering a safety net option should they become victims of a worsening economy. Another incentive for them is a 12-month down-payment scheme which allows the downpayment to be paid in instalments over one year.

A tie-up with Malayan Banking Bhd, HSBC Bank Malaysia Bhd and CIMB Bank Bhd, this feature makes it easier for those without deep pockets to get onto the housing ladder. Other benefits under Parade of Homes include an interest-free period during construction, zero entry cost with free transfer and legal fees as well as cash rebates of up to RM10,000 for early birds.

Badlishah also attributed SDP's success to the current market sentiment which causes buyers to be more cautious, discerning and selective.

In such a scenario, reputable developers with a good track record will have the upper hand as they are seen to be the safer choice.

In a sense, we are now taking advantage of that edge and using the Parade of Homes campaign as a tool to give homeseekers an additional impetus to buy, he noted.

Badlishah said the cam?paign's success so far speaks volumes about SDP's repu?tation among buyers, which makes it a point of pride for the company.

SDP currently offers an extensive range of properties from RM250,000 condomini?ums to bungalows above the RM3 million mark, making those seeking properties under the Parade of Homes banner spoilt for choice. The latest properties are located in SDP's townships such as Ara Damansara, Denai Alam and US] Heights in Selangor, as well as Melawati in Kuala Lumpur among others.

The Parade of Homes ben?efits will also be extended to new projects due for launch before the campaign officially ends on June 15.

More than just boosting SDP sales, Badlishah hopes the public will view the cam?paign as part of its contribu?tion to rejuvenating the sag?ging economy and property market.

On whether SDP plans to run more of such campaigns, he said we will continue to closely monitor the market and conduct focus studies on buyers' needs so that when we run another, it will offer useful benefits to buyers at that point of time.

Source: The New Straits Times, Property Times.