Sunway Property Targets RM2 Billion Sales

Sunway Berhad is increasing its sales target to RM2 billion for its property division this year, and at the same time will also be launching RM3.5 billion worth of properties, of which RM1 billion will be in Malaysia and RM2.4 billion will be in Singapore.

According to Serena Cheah, Sunway Berhad Property Division Managing Director, the sales target is an increased from 2019 target when Sunway Property surpassed its sales targets of RM1.3 billion to reach RM1.55 billion in sales.

“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.

“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 RM1.1 billion of investment properties currently being built”, she added.

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.

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

“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 RM600,000 – RM800,000. Our  commercial launches which constitute 30 percent 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 stresses.

“100 percent 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,” Cheah added.

Launches planned for this year include the RM31 million Sunway Avila Retail, the RM300 million Sunway Velocity TWO Tower C serviced apartments and the RM360 million Sunway Belfield Tower A serviced apartments.

This is on track with Sunway’s plans for geographical diversification as they continue to make headway in Singapore, China, UK and Australia.

Upcoming launches in Singapore will total RM2.44 billion worth of residential properties including Parc Canberra, Canberra Link (GDV RM560 million), Ki Residence, Clementi (GDV RM1 billion) and Park Avenue Residences, Tampines (GDV RM880 million).

Sunway Property 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 emphasised.

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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