Sunway Property, the Master Community Developer, is poised for another year of solid growth as it announces its sales target of RM2.6 billion for 2024.
This comes on the back of its positive performance over the past year, as the developer achieved RM2.4 billion in sales across its Malaysian and international operations, exceeding its sales target of RM2.3 billion for the financial year ended 31st December 2023.
During this period, Sunway Property also recorded an unbilled revenue of close to RM4.1 billion and successfully delivered launches worth RM4.4 billion. With its remaining landbank of 2,467 acres (as at 31st December 2023) bearing an estimated Gross Development Value (GDV) of RM52.9 billion, the developer is well-positioned to continue on its growth trajectory in the coming year.
Sarena Cheah, Managing Director of Sunway Property, said, “We are proud of our achievements in 2023, particularly as we exceeded our sales target for the year. While economic uncertainties remain, we remain optimistic about the resilience of the property market, especially with strong growth potential in Johor given plans such as the Johor Bahru-Singapore RTS Link and the Johor-Singapore Special Economic Zone. This year, we are also set to introduce four new Signature Products across all our regions in Malaysia. Coupled with the exciting offerings of our annual flagship Signature Series campaign, we’re confident that this positions us well to achieve our goals again in 2024.”
A New Range of SDDA-crafted Signature Homes
In Malaysia, Sunway Property will continue to expand its range of Signature Products for the residential segment. These developments are all crafted based on the developer’s hallmark Sunway Design & Development Architecture (SDDA), which ensures they are designed around and meet the highest standards of the four core SDDA pillars: Sustainability, Innovation, Health & Wellness, and Lifestyle & New Experiences.
In Klang Valley, Sunway Property will launch Sunway Velocity 3 – the next phase of its residential developments in Kuala Lumpur. Located in the heart of the Sunway Velocity township, the development will benefit from the township’s integrated healthcare, education, retail and hospitality components as well as connectivity to public transport facilities.
Meanwhile, Sunway Property will introduce new double-storey terrace homes in Sunway Aviana, located in Sunway City Iskandar Puteri, Johor, the developer’s largest, award-winning integrated township.
The developer will also launch Sunway Bayu, comprising flexi-terrace homes located in Sunway City Ipoh just a stone’s throw away from the Sunway Medical Centre Ipoh, which will be completed this year, as well as the upcoming Sunway Ipoh Mall which spans a Gross Floor Area of 1.5 million sq ft and will be completed by 2027.
In Penang, the developer will launch Sunway Wellesley, a gated landed residential development located in Bukit Mertajam.
International Strategic Growth
Sunway Property will continue to expand its international footprint. In Singapore, Sunway-Hoi Hup launched two private condominium sites in 2023, namely Terra Hill at Pasir Panjang and The Continuum at Katong, with total GDV close to SG$3 billion (approx. RM10.7 billion).
Keeping up with this momentum, two more projects will be completed this year, namely Parc Central and Ki Residences, which will strongly boost Sunway’s profit in 2024. The developer is also further expanding its footprint in Singapore, having won two new Executive Condominium sites in the span of the last six months.
In China, Sunway Property will be launching the next Tianjin Eco City phase with a GDV of over RMB380 million (approx. RM243 million). The project continues to attract interest from owner-occupiers, due to its strategic location next to a school and strong confidence in the developer’s delivery capabilities.
Sunway Property will remain focused on exploring new opportunities for expansion and diversification via strategic landbank acquisition in China as well as emerging Southeast Asian markets, to ensure robust growth and sustainability for its international pipeline.
Committed to Building Sustainable Communities
Underpinning its commitment to being “With You For Generations”, Sunway Property completed over RM900 million worth of investment properties across its integrated townships nationwide in 2023.
This year, the developer aims to complete RM700 million worth of investment properties as it further enhances its townships leveraging its unique build-own-operate business model. This includes the expansion of its wellness hubs across Malaysia, with Sunway Medical Centre Damansara and Sunway Medical Centre Ipoh set for completion in 2024, following the recent completion and official opening of Sunway Sanctuary last year.
New offerings are being continuously added to the Sunway Property+ programme, which aims to increase the value of any Sunway Property for homebuyers, through the exclusive benefits and access the programme provides to residents and community members. Upcoming features include expanded cleaning services and an all-new handyman home maintenance service under Care+ as well as a host of discount privileges and invites under Reward+. The developer is also considering expanding Rent+ to include rental management services in addition to its current rent credit offer.
These investments, upgrades, and innovative new offerings are in line with Sunway Property’s dedicated efforts to build and nurture sustainable communities, leveraging the diverse strengths of the entire Sunway ecosystem to empower its unique “Build-Own-Operate” model.
Sunway Property also remains steadfast in its goal of ensuring that all its assets that are completed by 2025 will be green-building certified, in alignment with Sunway Group’s commitment to achieve net zero carbon emissions by 2050.
“As a Master Community Developer, these initiatives are integral to upholding our promise of serving the communities that we are a part of. We are focused on continuously expanding our offerings and providing innovative solutions to our customers’ needs. With Sunway Group celebrating its 50th anniversary this year, we are all the more dedicated to developing safe and sustainable developments where communities can thrive for generations to come,” said Cheah.
Signature Series 2024 Returns
Sunway Property’s annual campaign, Signature Series, returns for its third consecutive year. Taking place from 18th March until 30th June 2024, the developer’s flagship sales campaign will feature incredible deals and lucky draw prizes, including Tesla Model Y vehicles worth RM199,999, travel vouchers worth RM20,000 and more.
Additionally, the campaign will also offer exclusive “Experience Sunway” signature vouchers in conjunction with Sunway Group’s 50th anniversary. From an exclusive dining experience at Gordon Ramsay Bar & Grill to a luxurious stay at the Sunway Resort Hotel and more, homebuyers will be able to select voucher of choice from a variety of dining, hospitality, retail and healthcare establishments in Sunway townships nationwide – allowing them to truly experience among the best of what Sunway has to offer.
