Sunway Property targets RM2.2 bln sales in 2022

PETALING JAYA: Sunway Property is targeting RM2.2 billion in sales and RM2.3 billion in launches this year, with almost 70 per cent of its new launches in Malaysia.

Sunway Property managing director Sarena Cheah said in 2022, the property developer will continue to invest in townships while launching community-centric green developments which are strategically located in high growth areas.

“Cautiously we are optimistic that the demand is there but there are uncontrollable events that we have to be careful of but having survived two years of different kinds of uncertainties, we are a lot more prepared,” she said during her speech at the Sunway Property Business Update and Media Briefing 2022 here today.

“We are seeing, across our business units, be it the theme park, retail malls, and even hospitality, a pick-up in economic activities and demand that augurs very well and give us a better feel of how people are feeling,” she continued. “I think by end of the year, every resort or holiday destination (will be) fully booked. It is also an opportunity for developers of lifestyles and homes to cater to the new demands.”

Sunway Property posted a record RM2.55 billion in sales last year despite the pandemic, attributed to good sales in Singapore.

The sales achievement is the developer’s highest in its history, surpassing its revised sales target of RM2.2 billion from its initial sales target of RM1.6 billion.

In addition, Cheah said “the pandemic has put sustainability and wellness on top of everyone’s agenda” and that a key initiative “is to develop integrated wellness hubs anchored by Sunway Medical Centre across Malaysia’s high growth regions to provide holistic medical and wellness services to improve the overall wellbeing.”

She added that the developer will continue to support the nation’s transition to a low-carbon, climate-resilient economy by transforming its townships into smart and sustainable cities.

The developer will aim to continue to have all of its assets - completed from 2025 - be green-building certified, and carry out energy, water and waste management across its developments.

Sunway Property is currently master planning eight integrated wellness hubs across Malaysia’s highest growth regions where it has integrated townships and developments -Klang Valley (Sunway City Kuala Lumpur, Sunway Velocity in Kuala Lumpur, and Sunway Damansara), Penang (Sunway Seberang Jaya and Sunway Valley City), Ipoh (Sunway City Ipoh), and Johor (Sunway City Iskandar Puteri), as well as Kota Bharu where it will be building its latest wellness hub.

The hubs will be anchored by Sunway Medical Centre with Singapore’s sovereign wealth fund GIC Pte Ltd an investment and strategic partner. Sunway will invest RM2 billion in capex in the next four to five years to build the medical centres.

In terms of residential launches, Sunway Property will launch the first tower of serviced apartments in Jernih Residence in Kajang with a gross development value (GDV) of RM281 million, condominium and superlink units in Sunway Alishan in Kuala Lumpur (GDV RM261 million), and the first tower of serviced apartments in Bukit Jalil (GDV RM275 million).

In Penang, the developer will launch townhouses in Sunway Wellesley (GDV RM120 million), and condominium units in Sunway Dora (GDV RM71 million).

It is also planning property launches in Ipoh and Johor. - Bernama