Paramount sets higher property sales target of RM1b for 2021, sees low interest environment as a boon

By Justin Lim

KUALA LUMPUR (March 3): The current low interest rate environment bodes well for the property market due to lower borrowing costs, says Paramount Corp Bhd group chief executive officer Jeffrey Chew.

Against this backdrop, coupled with the fact that the local economy is widely expected to recover in 2021, he is hopeful that the property market this year will be better than the last two years.

“Interest rates have come down and hopefully will stay low, prompting people to start buying properties,” Chew today told a virtual media briefing on Paramount’s financial results for the year ended Dec 31, 2020 (FY20).

The property developer achieved total property sales of RM770 million in FY20, 11% higher than the RM692 million recorded in FY19 despite the fallout from the Covid-19 pandemic.

As published: EdgeProp