Sunway Property targets RM2.6bil sales this year

Cheah said the group remained optimistic about the resilience of the property market.

PETALING JAYA: Sunway Property has set its sales target at RM2.6bil for 2024, following a strong performance last year.

The property developer said it achieved sales of RM2.4bil across its Malaysian and international operations in 2023, exceeding its target of RM2.3bil for the year.

During this period, Sunway Property also recorded an unbilled revenue of close to RM4.1bil and successfully delivered launches worth RM4.4bil, the group said in a statement.

With its remaining land bank of 2,467 acres as at Dec 31, 2023, bearing an estimated gross development value (GDV) of RM52.9bil, the developer said it was well-positioned to continue on its growth trajectory in the coming year.

Sunway Property managing director Sarena Cheah said despite the lingering economic uncertainties, the group remained optimistic about the resilience of the property market.

This is especially with the strong growth potential in Johor, given plans such as the Johor Bahru-Singapore rapid transit system link and Johor-Singapore Special Economic Zone, she said.

“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,” she said.

The new products that would be launched this year included Sunway Velocity 3 residential developments in Kuala Lumpur; double-storey terrace homes in Sunway Aviana in Sunway City Iskandar Puteri, Johor; Sunway Bayu flexi-terrace homes in Sunway City Ipoh, Perak; and Sunway Wellesley gated landed residential development in Bukit Mertajam, Penang.

Sunway Property will also continue to expand its international footprint. In Singapore, two more projects will be completed this year, namely Parc Central and Ki Residences, which will boost Sunway Bhd’s profit in 2024.

In China, Sunway Property will be launching the next Tianjin Eco City phase with a GDV of over 380 million yuan (RM243mil).

Meanwhile, Sunway Property’s annual sales campaign, Signature Series, will be held for the third consecutive year from March 18-June 30, 2024, featuring incredible deals and lucky draw prizes, including Tesla Model Y vehicles worth RM199,999 and travel vouchers worth RM20,000.