Sunway – RM1.6billion property launches and RM1.4 billion target

Within this week, I suddenly have this feeling that 2016 may not be that slow or perhaps the year that things start get better. Haha. Okay, don’t listen to me. Read on. Sunway Berhad announced that they will be launching RM1.6 billion worth of properties in 2016. 70 percent of the launches  It is targeting to sell RM1.4 billion in property sales. In 2015, Sunway did RM1.2 billion in sales. It’s Managing Director of Property Development Division, Sarena Cheah said that despite a challenging market, Sunway has enjoyed a take-up rate of 80 percent for four to its property launches over the past 4 months. These encouraging results came from the following:

  • Sunway Property had launched 34 retail units in Sunway Gandaria, Bangi (95% sold at starting prices of RM1 million)
  • 64 units of shop-offices in Sunway Velocity, Cheras (90% sold at starting prices of RM1.9 million)
  • 60 units of 2-storey cluster homes and 28 units of 2-storey super link homes in Serene Villas, Ipoh (60% sold at starting prices of RM925,000
    for 2-storey cluster homes and RM773,000 for super link homes)
  • 88 retail units in Emerald Boulevard, Medini, Iskandar (75% sold at starting prices of RM1.5 million).

Currently Sunway’s landbank stands at 3,304 acres, with a total GDV of RM47.7 billion and a development period up to 15 years. It’s total unbilled sales stands at RM 2.3 billion. Its launches for 2016 would be the following projects:

Central Region – Klang Valley  (RM1 Billion launches)

– Sunway Geo Residences 3 (420 condominium units; GDV RM400 million). This project is strategically located opposite Sunway Resort City’s education and healthcare precinct and has direct access to the BRT-Sunway Line. Additionally, the developer will launch a new block of office suites with GDV of RM200 million in the second half of the year.

– Brook Residences, Mont Kiara (288 condominium units; GDV of RM200 million)

– Sunway Gandaria Residences, Bangi (259 units serviced apartments; GDV of RM200 million) in the central region.

Southern Region – Johor (RM400 million launches)

– Emerald Residences at the Lakeview Precinct, Sunway Iskandar
(222 units of two-storey link, super link, link cluster and three-storey semi-detached homes; GDV RM 330 million) that was recently launched. Moving forward, there will be another RM400 million GDV worth of mixed developments to be launched this year.

Citrine Retail (51 units) will be opened end of 2016within the Lakeview Precinct within Sunway Iskandar. The Lakeview Precinct is the first precinct in the 1,800 acre Sunway Iskandar which will integrate commercial, residential, education, and retail components surrounding the 20-acre Emerald Lake.

Sunway International School (SIS) Sunway Iskandar, which represents its education component, will open in time with the completion of the Coastal Highway Southern Link (CHSL) in early 2017. The CHSL will provide even greater access to the development and is only 5 minutes away from the SIS campus.

Northern Region – Ipoh and Penang : Launches of RM 200 million

– Ipoh – Lost World Residences (262 units of serviced apartments; GDV RM 100 million) this year.

– Penang 48 units of two-storey semi-detached homes in Sunway Cassia, Batu Maung Phase 3 (GDV 100 million) in early April.

– Sunway Carnival Mall in Penang will also be expanded from 769,000 sq ft to 1,290,000 sq ft. It is also building a 180-bed Seberang Jaya Medical Centre. A new 20,000 sq ft Sunway Penang headquarters (with sales gallery) is also being built in Jalan Anson.

Geo Residences 3Recently, it was also named the top property developer in the nation for two years in running at The Edge Property Excellence Awards and more recently, Property Company of the Year 2015 – Asia in the World Finance Real Estate Awards by World Finance, a UK-based financial magazine published by
World News Media. Like some of the properties being launches? Google for the projects and take a closer look. Perhaps it is something that you may be looking for. Happy anticipating.

written on 26 Feb 2016

Next suggested article: Kelana Jaya, upcoming RM1.8 billion GDV by Sunway 

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