Sunway Property sets sights on RM2.6 bln sales, spurred by new launches in 2024
KUALA LUMPUR: Sunway Property is poised for another year of solid growth as it announces its sales target of RM2.6 billion for 2024.
This comes on the back of its positive performance over the past year, as the developer achieved RM2.4 billion in sales across its Malaysian and international operations, exceeding its sales target of RM2.3 billion for the financial year ended 31 December 2023.
During this period, Sunway Property also recorded an unbilled revenue of close to RM4.1 billion and successfully delivered launches worth RM4.4 billion.
With its remaining landbank of 2,467 acres (as at December 31, 2023) bearing an estimated gross development value (GDV) of RM52.9 billion, the developer is well-positioned to continue on its growth trajectory in the coming year.
Sarena Cheah, managing director of Sunway Property, said, “We are proud of our achievements in 2023, particularly as we exceeded our sales target for the year.
“While economic uncertainties remain, we remain optimistic about the resilience of the property market, especially with strong growth potential in Johor given plans such as the Johor Bahru-Singapore RTS Link and the Johor-Singapore Special Economic Zone.
“This year, we are also set to introduce four new Signature Products across all our regions in Malaysia.
“Coupled with the exciting offerings of our annual flagship Signature Series campaign, we’re confident that this positions us well to achieve our goals again in 2024.”
In Malaysia, Sunway Property will continue to expand its range of Signature Products for the residential segment.
These developments are all crafted based on the developer’s hallmark Sunway Design & Development Architecture (SDDA), which ensures they are designed around and meet the highest standards of the four core SDDA pillars.
In Klang Valley, Sunway Property will launch Sunway Velocity 3 – the next phase of its residential developments in Kuala Lumpur.
Located in the heart of the
Sunway Velocity township, the development will benefit from the township’s integrated healthcare, education, retail and hospitality components as well as connectivity to public transport facilities.
Meanwhile, Sunway Property will introduce new double-storey terrace homes in Sunway Aviana, located in Sunway City Iskandar Puteri, Johor, the developer’s largest, award-winning integrated township.
The developer will also launch Sunway Bayu, comprising flexi-terrace homes located in Sunway City Ipoh just a stone’s throw away from the Sunway Medical Centre Ipoh, which will be completed this year, as well as the upcoming Sunway Ipoh Mall which spans a Gross Floor Area of 1.5 million sq ft and will be completed by 2027.
In Penang, the developer will launch Sunway Wellesley, a gated landed residential development located in Bukit Mertajam.
Sunway Property will also continue to expand its international footprint. In Singapore, Sunway-Hoi Hup launched two private condominium sites in 2023, namely Terra Hill at Pasir Panjang and The Continuum at Katong, with total GDV close to SG$3 billion (approx. RM10.7 billion).
Keeping up with this momentum, two more projects will be completed this year, namely Parc Central and Ki Residences, which will strongly boost Sunway’s profit in 2024. The developer is also further expanding its footprint in Singapore, having won two new Executive Condominium sites in the span of the last six months.
In China, Sunway Property will be launching the next Tianjin Eco City phase with a GDV of over RMB380 million (approx. RM243 million). The project continues to attract interest from owner-occupiers, due to its strategic location next to a school and strong confidence in the developer’s delivery capabilities.
Sunway Property will remain focused on exploring new opportunities for expansion and diversification via strategic landbank acquisition in China as well as emerging Southeast Asian markets, to ensure robust growth and sustainability for its international pipeline.