Matrix Concepts nails mid-range housing market


DESPITE a softer market, Matrix Concepts Holdings achieved new property sales of RM166 million in the second quarter to end June, up from RM125 million (32.8 per cent) in the preceding quarter, as buyers continue to seek out its mid-range products.
The Seremban-based developer performed in line with market expectations, its net profit of RM42 million a 10th more than the preceding quarter and 41 per cent more than a year ago.
Owned 60 per cent by builder Lee Tian Hock and his family, Matrix has a flagship project in Bandar Sri Sendayan, an integrated township 5 km from the Seremban toll and 70 km from Kuala Lumpur which is continuing to attract buyers.
While high-end developers have to be more creative about sales following the imposing of further cooling measures last year, Matrix has come off well by playing in the mid-range market, and in a location where transport options are being developed.--
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