"We have been looking for opportunities but the pricing is not right. We would rather be careful about how we expand, and the fact is that the group has done well in this soft market with our diversified business. With recurring income, we do not have to keep launching just to maintain the numbers and it does not add to the overhang situation," she says. "The fact that we utilise the 'build, own, operate' model has helped us to not drive sales for the sake of the numbers. In a soft market, it allows us to focus on building the community."

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