PETALING JAYA - Master Community Developer, Sunway Property, is looking forward to drive sustainable growth within its operations this year, by ramping up its landbanking activities focusing on strategic lands suitable for standalone or transit-oriented development, and innovating within its operations.
According to statement, the developer recently added 8.45 acres of prime land located along Jalan Peel to its portfolio, bringing the developer’s current land bank to approximately 3,301 acres; located in Klang Valley, Johor, Penang, Singapore and China. The total estimated GDV is RM50.5 billion.
Speaking at a media event this morning, Managing Director of Sunway Berhad’s Property Development Division, Malaysia and Singapore, Sarena Cheah, said, “We are delighted to have this 8.45 acres of strategic land bank which will be developed as Sunway Velocity TWO, directly opposite Sunway Velocity. Sunway Velocity TWO will, in many ways, augment the sustainable growth of the entire Sunway Velocity community.”
With an estimated GDV of RM2 billion, more than 70% of Sunway Velocity TWO will comprise residential units, complementing the current Sunway Velocity which consists of 75% commercial units. It will be developed over a 10-year period.
The developer plans to build linkways between Sunway Velocity and Sunway Velocity TWO to connect business owners and residents within the two integrated developments. This is in addition to the strategic location and future connections of both developments to Cochrane MRT station as well as Maluri MRT and LRT interchange.
The 23–acre, RM 4billion gross development value (GDV) Sunway Velocity had clinched RM 1 billion in commercial and residential units’ sales since 2008, which was further spurred last year by the launch of its retail component, Sunway Velocity Mall. Attesting to the viability of being located in a strategic integrated development, the mall has achieved footfall of more than a million to date, and brings a unique shopping experience for the population base of over 800,000 in Cheras. The development will be enhanced by the completion of a four-star hotel, a medical center and two corporate office towers, all of which are already under construction.
“We want to ensure that when we build, there’s also a conducive ecosystem that supports our community’s growth. This is especially important at a time when people are cautious with purchases. In addition to owning a property, we also want to assure liveability, hence community needs such as road accessibility, social living, access to healthcare and educational amenities are always in the consideration whenever Sunway plans for a launch,” Cheah said.
She also said that Sunway will be working to build academic-industry linkages with the newly-launched Jeffrey Sach’s Centre on Sustainable Development in Sunway University to drive sustainable innovations within its operations as well as in its products. This will help Sunway to grow sustainably alongside its communities.
Introducing developments with excellent accessibility and value-added packages
This year, the developer is looking to launch RM2 billion (in GDV) worth of attractive properties in highly-accessible areas, which are boosted with value-added packages to meet the priorities of its potential buyers and supporters. The developer targets RM1.1 billion of sales this year, with approximately 90% the launches located in Malaysia.
“Purchasers and investors are still investing in this softer market but with greater caution. Our strong balance sheet and resilience from our diversity allow us to do two things well in this market – first to capture opportunities such as land banking, and secondly brand-build which we will undertake through the Living Sunway, Living Community campaign, which brings our communities closer to us,” Cheah said.
“We are confident that these launches will do well as most of it are integrated properties. This year’s plan models our success from last year, where we had performed best in our integrated developments. Our expertise in building, owning, and operating developments translates to our positioning as a Master Community Developer, as we are capable of nurturing, co-investing and building a better community living from both physical and social aspects,” she added.
Over the years, Sunway Property had ensured that each of its developments enjoy quick access to infrastructure by constructing direct links or connecting bridges to its developments such as KESAS link to Sunway South Quay, the soon to be completed Coastal Highway Southern Link (CHSL) to Sunway Iskandar, linked bridges between the Sunway Nexis – Surian MRT station, Sunway Velocity – Maluri and Cochrane stations, etc. It has also built Malaysia’s first BRT-Sunway line in Sunway City.
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