Sunway Property has unveiled Terra Hill, a hillside luxury complex built on the site of the old Flynn Park apartment in Singapore. Courtesy image
This article was originally published by Kathy B. on The News Straits Times
Sunway Property will continue to grow its footprint in Singapore and China while looking for opportunities to buy significant landbanks in Southeast Asian rising markets like Vietnam and Indonesia.
Its managing director Sarena Cheah said that the company is optimistic about the property market this year thanks to the strong economic outlook.
The company will offer its next line of distinctive home products in Malaysia, Singapore, and China, focusing on sustainability, innovation, health and wellness, lifestyle, and new experiences.
It has unveiled Terra Hill, a freehold hillside luxury complex built on the site of the old Flynn Park apartment.
Sunway Property will launch The Continuum in Singapore, and Sunway Gardens Phase 3 in Tianjin, China.
Meanwhile, in Klang Valley, the developer will launch Sunway Flora Residences in Bukit Jalil, the first GreenRE Platinum (Provisional) residential property in the area.
In Johor, it will launch two landed developments, Sunway Aviana and Sunway Maple, located in its largest integrated township of Sunway City Iskandar Puteri, as well as semi-detached homes and bungalows in Sunway Lenang Heights.
As for Ipoh, it is launching Sunway Bayu, a flexi-terrace development in Sunway City Ipoh.
In Penang, it will launch a residential project in Sunway Dora, a mixed development in Bayan Baru by the end of this month.
Cheah said that Sunway Property is optimistic about meeting its 2023 sales target of RM2.3 billion, thanks to a robust pipeline of projects that are appropriately tailored for current market conditions and target the correct buyer category.
Sunway Property reported RM2 billion in sales and RM4.3 billion in unbilled revenue for the fiscal year ending December 31, 2022.
Over the same time, the developer completed over RM1.3 billion in projects and has a total residual landbank of 3,292 acres with a potential gross development Value (GDV) of RM58.9 billion.
Sunway Property aims to complete RM1.1 billion in investment properties this year, including Sunway Medical Centre Velocity (Phase 2), Sunway Medical Centre (Phase 4), and Sunway International School (Phase 2) in Sunway City Kuala Lumpur.
Meanwhile, Cheah said that the company completed about RM1.4 billion in investment properties in its different integrated townships last year, including Sunway City Kuala Lumpur, Sunway City Iskandar Puteri, and Sunway Seberang Jaya.
She said that Sunway Property will continue to invest in its integrated townships this year, to complete RM1.1 billion in investment properties.
This includes the expansion of Sunway Medical Centre Velocity (Phase 2), Sunway Medical Centre (Phase 4), and Sunway International School (Phase 2) in Sunway City Kuala Lumpur.
Cheah also said that the company will further develop its extreme park, X Park 2, in Sunway City Iskandar Puteri, to incorporate catamaran and horse-riding facilities, in tandem with the flood of tourist activities in Johor.
She said that, in addition to completing its two Sunway Medical Centres in Sunway City Kuala Lumpur and Sunway Velocity Kuala Lumpur in 2023, the developer will continue to expand its wellness hubs across Malaysia, with the completion of Sunway Medical Centre Damansara and Sunway Medical Centre Ipoh in 2024.
Assets to be green-building certified
Sunway Property aims to have all of its assets completed by 2025 to be green-building certified as part of its commitment to achieving net zero carbon emissions by 2050.
Cheah said the company will continue to enhance its Sunway Property Pals+ (SPP+) programme, which benefits residents within its townships and standalone developments.
Its Care+cleaning service will be extended to its other developments in Klang Valley and its’ SPP+community will soon be able to enjoy an upcoming newly curated Reward+experience with Sunway Sanctuary, a flagship senior living residence under Sunway Healthcare Group.
“I like to describe us as a ‘living community’ serving another ‘living community’. We are more than just a developer of real estate, but a developer of communities. We have been a part of our community for the past four decades, and as we celebrate our 50th anniversary next year, we will continue to strive to pursue a better future alongside our communities as we serve them for generations to come,” she said.
