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SUNWAY TARGETS RM 2 BILLION IN SALES

Sunway Property announced today that it will target RM 2 billion in sales this year.

Sunway Berhad Property Division Managing Director Sarena Cheah said, “We will be increasing our sales target to RM 2 billion in sales. In tandem, we will also launch RM 3.5 billion worth of properties this year.”

Last year, Sunway Property surpassed its sales targets of RM 1.3 billion to reach RM 1.55 billion in sales. 

Sunway Berhad Deputy Managing Director Property Development Division (International) Tan Wee Bee, Sunway Berhad Property Division Managing Director Sarena Cheah, and Sunway Berhad Deputy Managing Director Property Development Division (Malaysia) Lum Tuck Ming launching Sunway Property’s campaign for the year, “Yours,2020”

Of the close to RM 3.5 billion worth of properties in gross development value (GDV) to be launched, RM 1.0 billion of the properties will be in Malaysia and  RM 2.4 billion (70%) of the properties will be in Singapore. This is in line with its plans for geographical diversification.

“Sunway’s recurring income from our portfolio of invested properties currently strengthens our financial sustainability. Geographical diversification will further deepen sustainability for us,” Cheah said. 

Sunway Berhad Property Division Managing Director Sarena Cheah speaking to the media at Sunway Property’s 2020 Business Update Media Briefing 

She added, “In line with our Master Community Developer brand promise, powered by our build-own-operate model, we will continue to invest in our integrated townships and developments to ensure growth for our communities with about RM 1.1 billion of investment properties currently being built”.

As of December 2019, Sunway Property has 3,362 acres in landbank with the gross development value of RM59 billion and a total development period of up to 15 years. Currently, strong unbilled sales stands at RM2.8 billion which provides for earnings visibility. 

Sunway Berhad Deputy Managing Director Property Development Division (Malaysia) Lum Tuck Ming, Sunway Berhad Property Division Managing Director Sarena Cheah, Sunway Berhad Deputy Managing Director Property Development Division (International) Tan Wee Bee, together with senior management of Sunway Property tossing the yee sang

FOCUSED ON DELIVERING LIFELONG VALUE FOR PURCHASERS

Cheah said that delivering lifelong value for purchasers continue to be Sunway Property’s key focus for the Malaysian market.

“100% of our launches this year will be within integrated developments or are transit-linked, in-line with the continued resilient demand that we are seeing from purchasers for properties which are connected and offers great convenience. Our new landbanking efforts will also be in tandem,” she said.

“We will continue to deliver lifelong value to homebuyers by developing quality liveable urban homes which are connected, and strategically-located, and price the homes within the range of RM 600,000 - RM 800,000. Our commercial launches which constitute 30% of our total launches this year will be within integrated developments with immediate catchment in populous areas to ensure the success of our business community,” she added.

“With this, homebuyers can be assured of lifelong value, and attain ideal urban lifestyles where they can live, learn, work, stay and play in safe and secure havens while be future-proofed with the inherent potential capital appreciation of the properties,” said Cheah.

Last year, purchasers had snapped up 80% of Sunway Property’s launches which were transit-linked or integrated, constituting 90% of its launches.

Klang Valley : RM 691 million of properties to be launched, RM 573 million in investment properties being built

Launches planned for this year includes Sunway Avila Retail (retail shops: GDV RM 31 million), Sunway Velocity TWO Tower C (serviced apartments : GDV RM 300 million), Sunway Belfield Tower A (serviced apartments : GDV RM 360 million).

Sunway Avila Retail is three kilometres away from the city centre and is connected to the Sri Rampai station. The development is situated in Wangsa Maju, one of the largest townships in the Klang Valley.

Sunway Velocity TWO is linked to the highly-successful Sunway Velocity integrated development, and is connected to two MRT stations, and is located 3.8 kilometres away from the city centre. Last year’s launch in Sunway Velocity TWO had clinched a 100% take-up rate.

Sunway Belfield is located 500 meters from the Maharajalela monorail and 3 kilometres from the city centre.

An office tower (GDC RM 350 million) and the expansion of its student accommodation (GDC RM 223 million) are currently being built in Sunway City Kuala Lumpur.

Penang : RM 250 million of properties to be launched, RM 301 million in investment properties are being built
In Penang, the developer will kick-off its much-awaited integrated development in Penang, Sunway Valley City. A replicate of its successful Sunway Velocity development in Klang Valley, Sunway Valley City is a 25-acre development with a gross development value of RM 2.4 billion which will be located in Paya Terubong, Ayer Itam, one of the matured neighbourhoods in Penang and will integrate six components, including commercial, serviced residences, shopping mall, education, hotel and healthcare components within a well-connected township. The first of its launches will be its shops and linear offices (GDV RM250 million).

Currently Sunway Medical Centre Seberang Jaya (GDC RM 301 million) is being constructed.

Johor : RM 100 million of properties to be launched, RM 182 million in investment properties under construction

In Johor, the developer will be launching Sunway Maple (townhouses : GDV RM 100 million) in Sunway Iskandar.


The 288-room Sunway Big Box Hotel (GDC 167 million) in Sunway Iskandar will be completed this year. SJK (C) Cheah Fah (GDC RM 15 million) will open for registration end of this year for students enrolling for 2021.

INTERNATIONAL GROWTH

On track with its plans for geographical diversification, the developer continues to make headway in Singapore, China, UK and Australia.

In Singapore, where Sunway Property has ventured into since 2007, and delivered RM 14.98 billion worth of properties, the developer’s launches will comprise 70% of the total launches for this year.

Upcoming launches in Singapore will total RM 2.44 billion worth of residential properties including Parc Canberra, Canberra Link (executive condominiums : GDV RM 560 million), Ki Residence, Clementi (private condominiums : RM 1.0 billion) and Park Avenue Residences, Tampines (executive condominiums : GDV RM 880 million).

In China, where the developer has ventured into since 2010, it has acquired another 6.85 acres of land in Sino-Singapore Tianjin Eco-City in 2019. To date, the developer has delivered RM 990 million worth of properties within the integrated 110-acre development which is a collaborative agreement between the governments of China and Singapore to jointly develop a socially-harmonious, environmentally-friendly and resource-conserving city in China.

Last year, Sunway Property had established a private trust in Singapore with an initial £38 million (est RM202 million) of assets under management (AUM) that focuses on purpose-built student accommodations in the UK. It has since acquired three completed student accommodation blocks in Bristol and Sheffield. Britain’s education sector remains one of its most lucrative international sectors with the government targeting to reach revenues of £35 billion by 2030.

The property developer is also pursuing opportunities in student accommodation and developments in Australia. Education is the third-largest export sector at AUD$32 billion annually. Australia’s property market is currently rising, with Sydney and Melbourne as some of the cities that lead gains in prices nationally.

100% CUSTOMER-CENTRIC

Sunway Property today also unveiled its campaign for the year, “Yours, 2020,” putting its purchasers at the front and centre of its operations.

Cheah said that purchasers can look forward to getting their dream home, at the right price, at strategic locations, coupled with the right financing support from the property developer this year.

“This year will be all about making it easy for those who are looking to purchase a home to start a new decade with their very own Sunway homes and be part of our growing communities,” she added.

Besides enhanced customer engagement and experience, improved service and an even more dynamic customer service portal, purchasers this year can look forward to fully-customised home packages that centres on well-being with personalised financing options.


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