Sunsuria to launch projects worth RM1.55bil

Developer expects positive change from current and future projects

PETALING JAYA: Property developer Sunsuria Bhd is expected to launch development projects with a total gross development value (GDV) of RM1.55bil for the financial year ending Sept 30, 2017 (FY17).

Sunsuria executive chairman Datuk Ter Leong Yap said that the company will continue to strive for greater growth backed by several launches and developments in the next few years.

“Sunsuria has undertaken ambitious and several major projects to pave the way for future and will be expecting positive change not only from the current projects, but also the project expansion in its first township - Sunsuria City by 2017.

“They include the first residential development of Sunsuria City, The Olive condominium, Bell Suites serviced apartments that face the main entrance of Xiamen University Malaysia and an upcoming landed residential development known as Monet Residences,” he said in a press release yesterday.

Apart from the township projects, Sunsuria will also focus on its second phase expansion of the mixed commercial development dubbed as The Forum, in Setia Alam.

Collectively, these projects in the pipeline will aim to contribute a total estimated target launch GDV of RM1.55bil by FY17.

The group posted a 137% growth in revenue of RM202.4mil and a 230% increase in net profit to RM43.8mil, as compared to the previous financial year.

This was attributed to Sunsuria’s strong sales force, customer centric practice and the ability to deliver quality projects and developments, namely the upcoming Suria Residence in Bukit Jelutong, commercial development The Forum in Setia Alam and several new commercial projects situated in Sunsuria City, such as Bell Avenue and Jasper Square.

Sunsuria closed 1.5% higher at RM0.98, with 256,300 shares traded.

The group recently embarked on a 525-acre flagship development located in Salak Tinggi, Putrajaya South, known as Sunsuria City.

The freehold development is designed with the guiding principles of ‘Smart, Liveable and Sustainable’.

Sunsuria City as an integrated township will become the new international landmark with Xiamen University Malaysia, the first overseas campus of a Chinese university, as well as an international premium shopping outlet, Kuala Lumpur International Outlet, within its vicinity.