Sunway eyes property sales of RM1.4b this year

KUALA LUMPUR: Sunway Bhd is eyeing property sales of RM1.4 billion across the region this year even as its property division announced of RM1.6 billion worth of launches.

Managing director of the property development division for Malaysia and Singapore, Sarena Cheah, said the group last year notched up sales of RM1.2 billion.

She said an estimated 70% of launches this year would be in the Klang Valley with a gross development value (GDV) of RM1 billion.

Other property launches would be in Johor (GDV of RM400 million), while those in Ipoh and Penang have a GDV of RM200 million.

"Despite the challenging market, we enjoyed an average take-up rate of 80% for four of our property launches in Bangi, Cheras, Ipoh and Johor, over the last four months.

"We attribute these successful launches to our strong track record as a master community developer, well located development and a passion to build long-term relationships in the communities we serve," she told a media group in Kuala Lumpur on Monday on the group's property outlook and plans for this year.

Sunway's total unbilled sales at present stands at RM2.3 billion.

The company has a landbank of 1,337ha with a total GDV of RM47.7 billion, which will keep the group busy and growing in the next 15 years. - Bernama