Sunway Property to double launches
Developer targeting to increase sales to at least RM1.3bil this year
PETALING JAYA: Sunway Property, the property arm of Sunway Bhd, expects sales to grow by almost a fifth this year, as it plans to double new launches around the country.
Managing director Sarena Cheah said the developer is targeting to sell at least RM1.3bil worth of homes and commercial units in 2018, up from the RM1.1bil achieved last year.
It is also planning to launch RM2bil worth of property across eight locations, compared with RM1.1bil in 2017.
Separately, Sunway Property will also launch RM610mil worth of new investment properties, which entails healthcare, commercial, hospitality, education and investment assets in its flagship integrated townships and major integrated developments.
Speaking at Sunway Property’s 2018 business update and Chinese New Year gathering, Cheah said there was still demand in the property market, although buyers were facing financing and loan approval issues.
“We are aware of such difficulties, as we look to help new homeowners capitalise on the many opportunities we are offering to be part of our growing and vibrant communities through our new Under The SUN Certainty+ financing campaign.
“This will offer purchasers and investors a convenient way to participate in Sunway Property’s growing communities,” Cheah said.
The Under The SUN Certainty+ financing campaign will feature a low down payment, cash rewards during construction period, guaranteed loans by Sunway Property, deferred payment, a voluntary exit plan and differentiated sum instalments by the developer.
Apart from that, Sunway Property will also continue to pursue landbanking activities this year.
While Cheah was unable to divulge the landbanking targets for the year, she guided that the company hoped to achieve a similar gross development value (GDV) figure of new landbank as last year’s.
In 2017, Sunway Property acquired five parcels of land suited for transit-oriented developments, which had a total GDV of RM5.5bil and size of 37.4 acres.
To date, the company’s total landbank amounts to 3,305 acres with a total GDV of RM53bil, with 56% of the landbank located in Johor, 30% in Klang Valley, and 6% in Penang.
“We will be careful with newer expansions of our developments in the future, particularly focusing on the healthcare segment.
“It is a growing segment with a lot of potential, and we shall also look into senior living spaces,” said Cheah.
In addition, Sunway Property intends to grow its foreign property income contribution by 30% to 50% by 2020.
The company has an estimated RM1bil worth of unbilled sales, which will be realised this year.
The property launches locked in for the year will be Sunway Citrine Lakehomes, Sunway Onsen Suites, apartments in Sunway Velocity TWO, apartments in Sunway Wangsa Maju, designer shops in Sunway Wellesley, Sunway Geo, as well as condominiums in Sunway Tianjin Eco City and Sunway Rivercove Residence in Singapore.