Sunway says on track to meet 2018’s RM1.3b sales target

KUALA LUMPUR (July 6): Sunway Bhd, which announced yesterday it had received overwhelming response to its Sunway GEOLake Residences project during an exclusive preview of the project recently, said its property development arm Sunway Property is on track to meet its 2018 sales target of RM1.3 billion.

The optimism is boosted when its Sunway GEOLake Residences saw 60% bookings, with 90% of registrants signing the sales and purchase (S&P) agreement on the same day of the preview, according to a statement from the group.

The project is a low-density residential development and “the final gem” in the RM2 billion gross development value (GDV) Sunway GEO series in Sunway South Quay, a 178-acre (72.03ha) international neighbourhood comprising both residential and commercial components, Sunway said in a statement.

With a GDV of about RM650 million, the Sunway GEOLake Residences comprises 420 condominium units and 44 townhouses spread across 6.49 acres of land in Sunway City. The sizes of the condominium units range from 883 sq ft to 1,776 sq ft, with price per sq ft averaging at RM900.

Sunway GEOLake’s recent success follows the track record set by previously launched developments within the Sunway GEO Series, including Sunway GEO Tower (fully tenanted), Sunway GEO Residences (100% sold), Sunway GEO Residences 2 (100% sold), Sunway GEO Retail Shops (99% sold), and Sunway GEO Flexi Suites (99% sold), the group said.

“We are humbled and thankful for the support and confidence from our buyers in our delivery of the past Sunway GEOLake series. We look forward to welcoming more interests once the final phase of Sunway GEOLake Residences is officially launched to the public,” said Sunway’s executive director for property development division in Central Region, Chong Sau Min.

Purchasers of Sunway GEOLake are eligible for the “Make it Possible” campaign, which offers rewards up to RM150,000 ranging from smart investment plans, fully furnished home packages, attractive incentives, and guaranteed loans which will vary depending on projects.

Sunway Property is set to launch local properties worth RM2 billion in GDV this year, the statement added.

This article first appeared in The Edge Financial Daily, on July 6, 2018.

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