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”
Sunway Property overachieved its sales target of RM1.3 billion in 2019 to hit RM1.55 billion of sales. On 7th January 2020, they announced a sales target of RM2 billion for the year.
Said Sunway Berhad Property Division Managing Director Sarena Cheah, “We will be increasing our sales target to RM2 billion in sales. In tandem, we will also launch RM3.5 billion worth of properties this year.”
Of the RM3.5 billion worth of properties based on its Gross Development Value (GDV) to be launched, about RM2.4 billion of it, translating to about 70%, will be in Singapore. This is in line with the Group’s plans for geographical diversification.
Said Cheah, “Sunway’s recurring income from our portfolio of invested properties currently strengthens our financial sustainability. Geographical diversification will further deepen sustainability for us.”
She further 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”.
Sunway Property has a recorded landbank of 3,362 acres as of December 2019, totalling approximately RM59 billion in terms of GDV with a development period of about 15 years. Their total unmilled sales at the moment stands at RM2.8 billion.
Sunway Main Focus Set on Delivering Lifelong Value to Purchasers
The Group’s main focus will continue to remain on delivering lifelong value to their buyers. According to Cheah, “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.”
“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.
In the year 2019, purchasers snapped up 80% of Sunway Property’s transit-linked and integrated developments, which comprised 90% of their new launches.
Sunway Property in Malaysia
The Group plans to launch RM691 million worth of properties in Kuala Lumpur, in addition to the RM573 million still being built. The new launches are to include Sunway Avila Retail, Sunway Velocity TWO Tower C, and Sunway Belfield Tower A which will total RM691 in Gross Development Value (GDV). All the developments will be close to public transportation, with last year’s Sunway Velocity TWO clinching a 100% take-up rate.
Over in Penang, the Group will be kicking off their new Sunway Valley City in 2020. This development will be a replication of the Klang Valley Sunway Velocity development and will comprise 25 acres and carry a GDV of RM2.4 billion. Their first phase will comprise of shops and linear offices that carry a GDV of RM250 million.
South in Johor, there will be RM100 million worth of properties to be launched, in addition to the RM182 million already under construction. The new launch will comprise of Sunway Maple, a development of townhouses in Sunway Iskandar.
Sunway Property in the International Market
In line with their plans for geographical diversification, the Group continues to make headway in Singapore, China, UK and Australia.
Established in Singapore since 2007 with a total of RM14.98 billion of delivered projects, the Group will launch RM2.44 billion worth of properties in Singapore this year. The projects will include Parc Canberra, Canberra Link, Ki Residence, Clementi, and Park Avenue Residences, Tampines.
In China, established since 2010, the Group has to-date delivered a total of RM990 million worth of properties. They have also further acquired 6.85 acres of land in Sino-Singapore Tianjin Eco-City in 2019.
And under their private trust in Singapore with an initial £38 million (est RM202 million) of assets under management (AUM), the Group focusses on purpose-built student accommodations in the UK. They have to-date completed 3 student accommodation blocks in Bristol and Sheffield.
And in Australia, the Group is also pursuing opportunities for development in the student accommodation arena.
Sunway Property Moves into 2020 with the “Yours 2020” Campaign
Sunway Property announced the launch of the “Yours 2020” campaign on 7th January 2020. With this campaign, property buyers can look forward to purchasing their dream home at affordable prices, in strategic locations, and the right financing support.
Commenting on the campaign, Cheah said, “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.”
The campaign will ensure that aside from enhanced customer service, property buyers of Sunway Property can in the year 2020 look forward to fully-customised home packages with a focus on personalised financing options.
(8 January 2020)
