Sunway Property targets RM4.2b sales in 2026 on RM4.8b launch pipeline

PETALING JAYA (Feb 26): Sunway Property has set a RM4.2 billion sales target for 2026, supported by a RM4.8 billion launch pipeline across Malaysia and selected regional markets.

The target follows a record 2025 performance, with total sales of RM3.8 billion, extending the developer’s four-year growth trajectory.

Managing director Chung Soo Kiong said demand continues to reflect a shift towards “certainty, liveability and long-term value”.

Analysts revise forecasts following announcement

Research houses have responded to the latest guidance by revising their FY2026 earnings forecasts.

RHB Investment Bank (Buy, target price: RM6.08) maintained a positive stance, citing the group’s expansion in Iskandar Malaysia and RM9.5 billion in unbilled sales as earnings visibility.

Hong Leong Investment Bank (Buy, target price: RM5.70) raised its FY2026 earnings forecast by 6.7%, describing the group as leveraged to domestic economic activity and infrastructure-led growth.

Kenanga Research (Underperform, target price: RM3.35), while retaining a cautious valuation stance, increased its earnings forecast by 16%, noting improved sector sentiment and the planned spin-off of Sunway’s healthcare unit.

Target prices and ratings are based on the respective research reports.

Johor focus anchored on JS-SEZ

A key component of the 2026 strategy is exposure to the Johor–Singapore Special Economic Zone (JS-SEZ), with the Rapid Transit System (RTS) Link scheduled for completion in December 2026.

Key Johor launches in 2026

*Bukit Chagar RTS transit-oriented development (TOD): Launch of the first residential tower adjacent to the RTS station.

*Sunway City Iskandar Puteri (SCIP): New phases of Sunway Sakura (landed semi-detached homes) and high-rise serviced apartments.

Sunway Property said foreign purchasers accounted for 15% of total buyers in 2025, compared with 6% in 2023.

Klang Valley and industrial expansion

In the Klang Valley, planned launches include:

*Sunway Serene 2 (Phase 2) in Petaling Jaya

*Sunway Velocity 3 (Tower C), expanding the group’s TOD portfolio

Beyond residential, the group is expanding its industrial segment through the Sunway Rawang Managed Industrial Park and Equalbase Sunway 103° in Johor, targeting logistics and data centre-related demand.

RHB Research has identified the industrial segment as a potential earnings upside.

Healthcare listing in focus

Investors are also monitoring the proposed listing of Sunway Healthcare Group, expected in early 2026.

Analysts have cited the corporate exercise and the group’s Build–Own–Operate (BOO) model as supportive of recurring income visibility.

Chung said the group is expanding its Sunway Property+ ecosystem, which is targeted to support 18,000 homes by end-2026.

Editor's note: This report incorporates analyst commentary following Sunway Bhd’s FY2025 results announcement on Feb 25, 2026. Target prices and ratings from RHB (RM6.08), Hong Leong Investment Bank (RM5.70) and Kenanga (RM3.35) reflect their latest published reports.Readers should note the March 10, 2026 ex-date for the Sunway Healthcare Group dividend-in-specie, as highlighted in analyst research.

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