Sunway Property plans to launch properties worth RM2.8bil

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"All of our launches this year will focus on the vibrancy of city living ." said Cheah.

"All of our launches this year will focus on the vibrancy of city living ." said Cheah.

PETALING JAYA: Master community developer Sunway Property is planning to launch RM2.8bil worth of properties in Malaysia, Singapore and China in anticipation of economic recovery as vaccines roll-out across the world this year.

Of the new launches, 40% or RM1.1bil worth of properties will be launched in Klang Valley where the economy is expected to rebound strongest in tandem with the vaccine roll-out.

The remaining 60% of launches will be international projects comprising Parc Central Residences in Singapore, with a gross development value of RM910 mil, and phase 3 of Sunway Gardens Condominiums in Tianjin, China, with a GDV of RM780mil, said Sunway Property managing director Sarena Cheah.

In conjunction with the higher launches for 2021, the property developer is setting a sales target of RM1.6bil for 2021, 23% higher than the achievement in 2020 of RM1.3bil, she said.

Parc Central Residences in Singapore, is set to be launched.

Parc Central Residences in Singapore was launched in January this year.

Besides new launches, the master community developer will also be looking to complete its portfolio of investment properties under construction in its various integrated townships.

Currently, the group’s pipeline of investment properties include the RM160mil Sunway Hotel Big Box, Johor, Sunway Carnival Mall expansion, Penang (RM350mil), Sunway International School (RM200mil) and Sunway Medical Centre expansion (RM600mil) in Sunway City Kuala Lumpur.

In total, Sunway Property currently has more than RM11.0billion of assets under its management as of Dec 31, 2020. The continued development of new investment properties in its integrated townships are consistent with Sunway’s philosophy as a master community developer and a co-investor with all its property buyers.

Sunway has maintained ownership of up to 50% of the properties within its townships through its build-own-operate business model which has generated substantial value for the community.

Phase 3 of Sunway Gardens Condominiums in Tianjin, China will be launched this year.

Phase 3 of Sunway Gardens Condominiums in Tianjin, China will be launched this year.

As of Dec 31, Sunway Property has 3,324 acres of landbank with potential GDV of RM51.3bil and over a total development period of up to 15 years. The developer also has unbilled sales which stands at RM2.2bil, providing clear earnings visibility for the immediate two to three years.

Cheah said that the property developer is excited to launch RM1.1bil worth of developments in Malaysia this year, all of which are designed for new norm urban living, under its Beauty of City Living campaign.

In Malaysia, the new launches comprise:
• Sunway Belfield in Kuala Lumpur (RM320mil)
• D’Hill @ Sunway Damansara in Kota Damansara (RM220mil)
• Sunway Artessa in Wangsa Maju (RM300mil); and
• Jernih Residence in Kajang (RM270mil).

An artist impression of Sunway Belfield.

An artist impression of Sunway Belfield.

Cheah said: “All of our launches this year will focus on the vibrancy of city living and focuses on connectivity, being located near transit stations; support chic and modern lifestyles, being close to amenities like cafes and retail; and promotes healthy and active lifestyle, being located near green lungs.”

“Over the period of the pandemic, I believe many people have experienced a reset of priorities. Many have developed greater appreciation of their families and their health and wellbeing.

“The strength of the location of all our new launches which are within matured neighbourhoods will reduce time spent by our residents on commuting for work, school or even grocery shopping and allow the time to be spent more meaningfully with the family or working out at our development’s various facilities.”

Cheah said the products this year will also have new norms in mind like work from home.

Generally, all projects will look at providing more living space, whether within the unit or in common areas, have better Internet connectivity and incorporate design which promotes better air ventilation, he said.

“Certain projects will also include common areas which are furnished to be like co-working offices and have meeting rooms that can be booked for business meetings,” she added.

 

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