Sunway targets RM2 billion in sales
KUCHING: Sunway Property has announced that it will target RM2 billion in sales this year.
“We will be increasing our sales target to RM2 billion in sales. In tandem, we will also launch RM3.5 billion worth of properties this year,” Sunway Bhd Property division managing director Sarena Cheah said.
Last year, Sunway Property surpassed its sales targets of RM1.3 billion to reach RM1.55 billion in sales.
Of the close to RM3.5 billion worth of properties in gross development value ( GDV) to be launched, RM1 billion of the properties will be in Malaysia and RM2.4 billion (70 per cent) of the properties will be in Singapore. This is in line with its 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,” Cheah 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.”
As of December 2019, Sunway Property has 3,362 acres in landbank with the gross development value of RM59 billion and a total development period of up to 15 years. Currently, strong unbilled sales stands at RM2.8 billion which provides for earnings visibility.
Cheah said that delivering lifelong value for purchasers continue to be Sunway Property’s key focus for the Malaysian market.
“100 per cent of our launches this year will be within integrated developments or are transitlinked, in-line with the continued resilient demand that we are seeing from purchasers for properties which are connected and offers great convenience.
Our new landbanking efforts will also be in tandem,” 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 per cent 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.”
“With this, homebuyers can be assured of lifelong value, and attain ideal urban lifestyles where they can live, learn, work, stay and play in safe and secure havens while be future-proofed with the inherent potential capital appreciation of the properties.”
Last year, purchasers had snapped up 80 per cent of Sunway Property’s launches which were transit-linked or integrated, constituting 90 per cent of its launches.