SP Setia's Australian Ambitions Soar With New Project
SP Setia's Australian Ambitions Soar With New Project
SP Setia remains committed to its earnings forecasts and maintains its FY24 sales assumption of RM4 billion, supported by solid sales in the first half of the year, which reached RM2.3 billion.SP Setia Bhd is poised for strong sales growth following the successful launch of its latest project, Atlas Melbourne, which is strategically located in Melbourne's Central Business District (CBD). The project, which has a gross development value (GDV) of A$750 million and comprises 836 units priced at A$16,500 per sq m, has already achieved 30% sales within just two weeks of its official launch in Malaysia. SP Setia could potentially exceed its fiscal year 2024 (FY24) estimated sales target of RM4.4 billion, which does not include land sales, as the demand for properties in this highly sought-after location continues to surge.
SP Setia Bhd在成功推出其最新項目Atlas Melbourne之後，有望實現強勁的銷售增長，該項目地理位置優越，位於墨爾本中央商務區（CBD）。該項目的總開發價值（GDV）爲7.5億澳元，包括836個單元，價格爲每平方米16,500澳元，在馬來西亞正式啓動後的短短兩週內就實現了30％的銷售額。由於這個備受追捧的地點對房地產的需求持續激增，SP Setia有可能超過其2024財年（FY24）的預期銷售目標，其中不包括土地銷售。
Maybank Investment Bank Bhd maintained a BUY rating on SP Setia with a target price of RM1.64, reflecting a price-to-book value (PBV) of 0.6 times for FY25.
馬來亞銀行投資銀行有限公司維持標普西提亞的買入評級，目標價爲1.64令吉，反映出25財年的賬面市值（PBV）爲0.6倍。
The successful performance of Atlas Melbourne can be attributed to its prime location adjacent to Victoria University and the presence of a tram station directly in front of the development. The ongoing housing shortage in Melbourne, compounded by planning restrictions, limited available sites, and rising construction costs, has further boosted demand. According to Colliers, no apartment building approvals have been recorded within the Melbourne CBD for the past four years, with apartment completions at their lowest in 15 years. Projections indicate that Melbourne will face a housing shortfall accounting for 65% of the national deficit by 2033.
Atlas Melbourne的成功表現可以歸因於其毗鄰維多利亞大學的黃金地段，以及開發項目正前方有電車站。墨爾本持續的住房短缺，再加上規劃限制、有限的可用場地和不斷上漲的建築成本，進一步提振了需求。根據Colliers的數據，墨爾本中央商務區在過去四年中沒有公寓樓的批准記錄，公寓竣工量處於15年來的最低水平。預測表明，到2033年，墨爾本將面臨住房短缺，佔全國赤字的65％。
SP Setia remains committed to its earnings forecasts and maintains its FY24 sales assumption of RM4 billion, supported by solid sales in the first half of the year, which reached RM2.3 billion.
SP Setia仍致力於實現其收益預期，維持其24財年40令吉的銷售假設，這得益於上半年的穩健銷售額，達到23令吉。
The company is currently assessing potential joint venture partners for the Melbourne project, with three interested parties already submitting proposals. Atlas Melbourne is anticipated to contribute to earnings starting in the second quarter of 2027 when the completed units are handed over to buyers.
該公司目前正在評估墨爾本項目的潛在合資合作伙伴，三個利益相關方已經提交了提案。預計墨爾本阿特拉斯將從2027年第二季度開始爲收益做出貢獻，屆時完工單位將移交給買家。
In addition to this project, SP Setia has plans for two more developments in Melbourne and Sydney, with a combined GDV of A$876 million expected to be launched by 2025.
除該項目外，SP Setia還計劃在墨爾本和悉尼再開發兩個項目，預計到2025年將推出8.76億澳元的總GDV。
譯文內容由第三人軟體翻譯。
