Master community developer Sunway Property announced its plan for 2021 virtually to the media, including the launch of RM2.8 billion properties in Malaysia, Singapore and China in anticipation of economic recovery as vaccines roll out around the world this year.
In conjunction with the higher launches for 2021, the property developer is setting a sales target of RM1.6 billion for 2021, 23% higher than the achievement in 2020 of RM1.3 billion.
Sunway will also be looking to complete its portfolio of investment properties under construction in its various integrated townships. Currently, the Group’s pipeline of investment includes Sunway Hotel Big Box in Johor.
Sunway Property has 3,324 acres of landbank with a potential gross development value of RM51.3 billion. The developer already has RM2.2 billion in unbilled revenues, offering clear earnings visibility for the next 2-3 years.
Sarena Cheah, Sunway Property Managing Director, said that they are excited to launch RM1.1 billion worth of developments in 2021 in Malaysia. All of the developments are designed for new norm urban living, under its ‘Beauty of City Living’ campaign. The projects will look at providing more living space, whether within the unit or in common areas, have better internet connectivity and incorporate design which promotes better air ventilation.
Sunway Property also revealed affordability, with its latest initiative, the first co-living development – Co-living @ Sunway House Waterfront Residence located in Sunway City Kuala Lumpur.
Residency provides co-living opportunities for young adults and working professionals. Rents start from RM1200 per month and are all inclusive including community events and utilities like WIFI and electricity.
“Sunway Property’s co-living residents can convert 25% of their rental into down payment when they purchase any property of their choice. In a way, our tenants are saving towards their downpayment by staying with us,” she said.
Sunway Property will continue to invest and innovate with the aim of ensuring community development and resilience.
Cheah stated that the developer would accelerate innovation with the integration of 5G technology by transforming Sunway City Kuala Lumpur into a living lab to build next generation urban solutions using 5G technology in order to create future-proof, resilient urban communities.
“By building smart townships and houses, we will be able to reduce greenhouse gas emissions while still providing healthier lives and a brighter future for everyone. As a climate change adaptation and mitigation plan, we want all of our projects to be green buildings with urban farms.”
Sunway City Kuala Lumpur will serve as a living lab for developing new technologies for resilient urban communities, with a focus on smart cities, digital health tech, edutech, agrifood tech, and e-commerce.
Sunway Property has also partnered with Sunway iLabs to launch Malaysia’s first smart farm, the Sunway FutureX Farm, in Sunway City Kuala Lumpur.
Sunway FutureX Farm grows up to 18 different types of vegetables in a hydroponic system. A research and development centre, as well as training and shared areas, are all part of the 50,000-square-foot innovation hub.
With the success of its pilot urban farming project in Sunway City Kuala Lumpur, the developer plans to expand the programme this year to Sunway Penang and Sunway City Iskandar Puteri in Johor.