Sunway Property sets sales target of RM2.3 bil for 2023

• “With a strong pipeline of projects that are rightly designed for the current market conditions and targeting the right buyer segment, we are confident to achieve our sales target of RM 2.3 billion for 2023.”

KUALA LUMPUR (Feb 23): Sunway Property has set a sales target of RM2.3 billion for 2023, on the back of achieving RM2.0 billion in sales with an unbilled revenue of RM 4.3 billion for its financial year ended Dec 31, 2022.

In a statement on Thursday (Feb 23), the master community developer said that at the same period, it also delivered over RM1.3 billion worth of projects and has a total remaining landbank of 3,292 acres with a potential gross development value (GDV) of RM 58.9 billion.

Sunway Property managing director Sarena Cheah said as the economic outlook remains resilient, the company is hopeful about the property prospects this year.

“With a strong pipeline of projects that are rightly designed for the current market conditions and targeting the right buyer segment, we are confident to achieve our sales target of RM 2.3 billion for 2023,” she said.

Cheah said the developer will launch its next range of signature products across the regions for the residential segment in Malaysia, all of which are crafted based on the developer’s Sunway Design & Development Architecture (SDDA) and its four pillars: sustainability, innovation, health & wellness; and lifestyle & new experiences.

She said in Klang Valley, the developer will launch its inaugural signature product in Bukit Jalil — Sunway Flora Residences, the first greenRE platinum (provisional) residential development within the vicinity.

She said Johor can expect two landed developments, Sunway Aviana and Sunway Maple, located in its largest integrated township of Sunway City Iskandar Puteri, as well as semi-detached homes and bungalows in Sunway Lenang Heights.

As for Ipoh, the developer will be launching Sunway Bayu, a flexi-terrace development in Sunway City Ipoh. In Penang, the developer will launch its residential development in Sunway Dora, a mixed development in the established township of Bayan Baru towards the end of February 2023.

Cheah said for its international market, the developer has unveiled Terra Hill, a freehold hillside luxury development built on the site of the old Flynn Park apartment; and will be launching The Continuum in Singapore; and Sunway Gardens Phase 3 in Tianjin, China.

Sunway Property will continue to expand its footprint in Singapore and China, while exploring opportunities to acquire strategic landbanks in Southeast Asian emerging markets such as Vietnam and Indonesia.

Meanwhile. Cheah said Sunway Property continues to remain and be a part of the community it has built and nurtured over the years; upholding its commitment as the master community developer.

She said that in 2022, the developer completed over RM1.4 billion worth of investment properties in its various integrated townships — Sunway City Kuala Lumpur, Sunway City Iskandar Puteri and Sunway Seberang Jaya.

In 2023, Sunway Property will continue to invest in its integrated townships and will be looking at completing RM1.1 billion worth of investment properties which includes the expansion of Sunway Medical Centre Velocity (Phase 2), Sunway Medical Centre (Phase 4) and Sunway International School (Phase 2) in Sunway City Kuala Lumpur.

The developer will also be expanding its extreme park, in tandem with the influx of tourist activities in Johor with the X Park 2 in Sunway City IIskandar Puteri, to include catamaran and horse-riding facilities.

Alongside aligning with Sunway Group’s commitment to achieve net zero carbon emissions by 2050, the developer will continue to have all of its assets completed by 2025 to be green-building certified and continue to invest in corporate social responsibility programmes to help those in need.

At 10am, Sunway Bhd shares rose 1.25% or two sen to RM1.62, with 216,200 shares traded.