The proceeds will also be used for general corporate purposes, refinancing of existing borrowings, and inter-company advances within the Sunway group via shariah-compliant structures such as mudharabah or wakalah, said Sunway.
Before joining Sunway REIT Management Sdn Bhd—the manager of Sunway REIT—he was CEO of Sentral REIT Management Sdn Bhd, the manager of Sentral REIT.
The project, part of the proposed Sunway Cochrane development, comprises two serviced apartment blocks with rooftop facilities, a seven-storey podium with retail floors and a link bridge to the Cochrane MRT Station, according to the company’s bourse filing.
The property development segment reported a revenue of RM380.
The strong quarterly performance also boosted its nine-month results to a record high, with net profit more than doubling to RM243.
The group said its wholly-owned subsidiary, Kar Sin Bhd, has signed a new supplemental agreement with Sunway's unit, Sunway Living Space Sdn Bhd, as well as the registered proprietor, Imbuhan Sempurna Sdn Bhd, and the first beneficial owner, Great Wall Park Sdn Bhd.
Meanwhile, the industrial segment also delivered strong growth, bolstered by Sunway REIT Industrial—Prai, which was acquired in October 2024.
The new entity currently has nine ongoing residential developments in Singapore, comprising 4,937 units with an attributable gross development value (GDV) of S$4.
This marks the first time a developer-led township has received Platinum recognition in a programme traditionally reserved for local councils and government agencies.
Apart from a dedicated Cancer and Nuclear Medicine Centre, the hospital is home to six Centres of Excellence, covering Cardiology, Orthopaedic, Neurosciences, Clinical Oncology, Women & Children’s Health (including NICU And Neonatology), and Digestive Health.
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