KUCHING: Sunway Property announced yesterday that it is targetting RM2 billion in sales this year while continuing to focus on delivering lifelong value to purchasers.
Sunway Berhad Property Division managing director Sarena Cheah said the company does this as it journeys towards international growth with the launch of a campaign called ‘Yours, 2020’.
“We’ll be increasing sales target to RM2 billion underlined by our launching of RM3.5 billion worth of properties this year,” Cheah said in a statement yesterday.
According to him, last year, Sunway Property surpassed its sales target of RM1.3 billion to reach RM1.55 billion in sales.
“Of the close to RM3.5 billion worth of properties in GDV to be launched, RM1 billion of the properties will be in Malaysia and RM 2.4 billion (70%) will be in Singapore. This is in line with our 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,” she said.
Cheah added that in line with Sunway’s Master Community Developer brand promise that is powered by its build-own-operate model, the company will continue to invest in its integrated townships and developments to ensure growth for the communities with about RM1.1 billion of investment properties that is currently being built.
“As of December 2019, Sunway Property has 3,362 acres in land bank with gross development value of RM59 billion and a total development period of up to 15 years. Currently, strong unbilled sales stand at RM2.8 billion, which provides for earnings visibility,” she said.
On Sunway Berhad Property’s delivering of lifelong value for its purchasers, Cheah said it is the company’s key focus for the Malaysian market.
He said 100% of its launches this year will be within integrated developments or are transit-linked, in-line with the continued resilient demand that they are seeing from purchasers for properties which are connected and offer great convenience.
“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 RM 600,000 – RM 800,000.
“Our commercial launches which constitute 30% 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,” she added.
Besides that, 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.
Cheah mentioned that last year, purchasers snapped up 80% of Sunway Property’s launches which were transit-linked or integrated, constituting 90% of its launches.
Sunway Berhad Property is also looking forward with international growth, as on track with its plans for geographical diversification, the developer continues to make headway in Singapore, China, United Kingdom and Australia.
