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This article first appeared in The Edge Financial Daily on January 8, 2020

KUALA LUMPUR: Sunway Bhd is targeting RM2 billion sales for its property division, while launching close to RM3.5 billion worth of properties this year.

In a statement yesterday, the group’s property division managing director Sarena Cheah said the sales target is an increase from its 2019 target when Sunway Property surpassed its target of RM1.3 billion to reach RM1.55 billion in sales.

Of the close to RM3.5 billion property launches, Cheah said RM1 billion will be in Malaysia and RM2.4 billion will be in Singapore.

Cheah said this is in line with the group’s plans for geographical diversification.

“Sunway’s recurring income from our portfolio of invested properties currently strengthens our financial sustainability. Geographical diversification will further deepen sustainability for us,” she 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 had 3,362 acres (1,360.6ha) in land bank with a gross development value (GDV) of RM59 billion and a total development period of up to 15 years.

Currently, unbilled sales stand at RM2.8 billion.

Cheah said that delivering lifelong value to purchasers continues to be Sunway Property’s key focus in the Malaysian market.

“One hundred per cent 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 offer great convenience,” she said.

“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 to RM800,000. Our commercial launches, which constitute 30% 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 added.

Cheah said launches planned for this year include the RM31 million Sunway Avila Retail, the RM300 million serviced apartment project Sunway Velocity TWO Tower C, and another RM360 million serviced apartment project, Sunway Belfield Tower A.

On track with its plans for geographical diversification, Cheah said Sunway Property continues to make headway in Singapore, China, the UK and Australia.

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

Sunway Property has also unveiled its campaign for the year, “Yours, 2020”, in which Cheah said 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 home and be part of our growing communities,” she said.

Besides enhanced customer engagement and experience, improved services and an even more dynamic customer service portal, Cheah said purchasers this year can look forward to fully customised home packages that centre on well-being with personalised financing options.

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