PETALING JAYA (March 29): Sunway Property, the property division of Sunway Bhd, today announced a campaign that features financial assistance to potential buyers of its upcoming launches.
The group's managing director of property development division for Malaysia and Singapore Sarena Cheah said the Sunway Property Certainty Campaign comprises three packages — a guaranteed loan, deferred payment and a voluntary exit plan.
"For homebuyers who meet the basic criteria, we are happy to assist them by providing a certainty package with a guaranteed loan thereby enabling them with greater sense of comfort to own their dream home.
"Homebuyers can also opt for the deferred payment option with an initial down payment as low as 3%. We have also put in place the option for purchasers to terminate their sale and purchase agreement if they lose their employment," she said when launching the campaign.
Cheah said the projects eligible for the loans include Sunway Gandaria in Bangi (RM200 million gross development value or GDV), Brook Residences in Mont Kiara (RM200 million GDV) and the final phase of condominiums for Sunway Geo Residences 3 in Bandar Sunway (RM420 million GDV).
The loans will be for a fixed tenure of 15 years, with a fixed interest rate based on a commercial basis. The offer is from March 29 to Sept 30, with the loan to be provided as at the completion date of the property.
Cheah added that the loans issued will be funded internally, via the Sunway group's financial arm, and said that the loans will be palatable for the group.
"It is actually very palatable for us overall. The balance sheet of the developer is very important. Today, the group is very comfortable and strong, and we know what to look out for and what we can or cannot do. We have a financing group in the arm for many years.
"Compared to the total market capitalisation of the group, it's very affordable for us. Also, we also will be charging interest on the loans, so it's no loss at all," she said.