KUALA LUMPUR (June 11): Sunsuria Bhd is targeting to enjoy RM1 billion property sales per year moving forward.

Its executive director Kong Wai Seng said the group is targetting to record sales of about RM900 million for the current financial year ending Sept 30, 2016 (FY16). The property developer has changed its financial year-end from March to September.

"Put aside the consideration of changing financial year-end, total launches of the group would worth about RM1 billion in the next 12 months," Kong told a press conference after the group's extraordinary general meeting (EGM) today.

Kong said the bulk of the launches will be coming from the group's township development around the Xiamen University Malaysia campus in Bandar Kota Warisan, Sepang, Selangor, which measures 331.27 acres, with a gross development value (GDV) of RM6.4 billion.

"The GDV for first phase of the development is about RM900 million. It will feature 663 units of low-rise apartments, priced below RM400,000 per unit," Sunsuria executive chairman Datuk Ter Leong Yap said.

"Our products in the near term will mostly be low-rise and landed. (That's) because this type of building enjoy quick construction and turnaround period, giving us more cash to fund the remaining part of the township development," he added.