BUSINESS

SUNWAY EYEING RM2.8 BLN IN PROPERTY LAUNCHES THIS YEAR

04/03/2021 06:38 PM

KUALA LUMPUR, March 4 -- Sunway Bhd is eyeing RM2.8 billion worth of property launches for its property division this year, with 40 per cent of the projects to be developed in Malaysia.

Property division managing director Sarena Cheah said 30 per cent would be launched in Singapore with the remaining in Tianjin, China, amid the cautious property market.

"Our sales target this year is RM1.6 billion, which is RM300 million higher than last year, but we are hoping that with our focus on track and if the COVID-19 vaccination programme takes effect a lot faster, we may achieve a higher amount," she said in the Sunway Property Virtual Business Update and Media Briefing 2021 today. 

Cheah said the development in Malaysia would take RM1.1 billion in gross development value (GDV), with all to be built within the Klang Valley area namely Sunway Belfield Tower A, Kuala Lumpur and  Sunway Artessa Wangsa Maju in the first quarter (Q1), D’Hill, Sunway Damansara (Q2) and Jernih Residence, Kajang in Q3. 

“We will also have a good blend of different types of serviced apartments available, but the key is that all are strategically located and well priced,” she said. 

For Singapore, the company has already launched an executive condominium in January with a GDV of RM910 million, while for China, its project will kick off in Q3 with a GDV of RM780 million. 

Among ongoing projects, Sunway Hotel Big Box in Johor is expected to be completed in Q4 with total development cost (TDC) of RM160 million, expansion on the Sunway Carnival Mall to be completed in 2Q22 (TDC RM600 million) and Sunway Medical Center’s (Tower D, E and F) expected completion in 2Q22 with TDC of RM600 million as well. 

Meanwhile, Cheah said the company would accelerate innovation with the integration of 5G technology.

“We will be transforming Sunway City Kuala Lumpur into a living lab where we will bring together expertise in academia, government and corporations to develop new generation urban solutions leveraging on 5G technology.

“With the development of smart townships and homes, we will be able to cut greenhouse gas emissions. We aim for all our developments to be green buildings with urban farms as a climate change adaptation and mitigation strategy,” she said. 

Cheah further said that the company is currently harnessing the power of big data to understand customers better, thus create greater products, design and services.

In 2020, the group generated three per cent of electricity from solar panels, diverted four per cent of waste from the landfill and reduced water intensity by 23 per cent from its baseline year of 2015.

With its pilot urban farming project launched in Sunway City Kuala Lumpur, it is also planning to implement the same this year in its other projects such as Sunway Penang and Sunway City Iskandar Puteri in Johor.

Sunway Property is the property division of Sunway Group. 

-- BERNAMA

 

 


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