Analysts deem Sunway’s RM320m Taman Taynton land buy fair
The acquisition is expected to boost Sunway’s gross development value (GDV) to RM58 billion with the planned RM3.
The acquisition is expected to boost Sunway’s gross development value (GDV) to RM58 billion with the planned RM3.
YNH Property in January announced its plan to sell the seven-storey retail shopping centre to Sunway REIT for RM215 million in cash.
Upon completion of the acquisition, Sunway pointed out that the acquisition will also entail financial requirements to fund the future development of Sakura Residence.
The diversified group saw its net profit for the quarter ended March 31, 2024 (1QFY2024) rise to RM172.
“The group is optimistic of registering a positive growth in FY2024 supported by our strong existing outstanding order book” totalling RM6.
It was also agreed that Kar Sin will promptly apply for and ensure the issuance of a new title document to the property that clearly indicates that Kar Sin had acquired the land prior to selling it to Sunway Living Spaces.
Phase 1 of Sunway Velocity 3 comprises two serviced residence blocks with built-ups from 721 to 1,076 sq ft.
The outlet’s tenants include companies from industries such as technology, financial technology (fintech) and travel agencies, as well as digital nomads via Malaysia Digital Economy Corporation (MDEC)’s DE Rantau programme.
The construction will consist of 1,604 units of serviced apartments in two 60-storey blocks, which also comprise a level of basement car park, 8 levels of elevated car parks, two levels of mezzanine as well as recreation facilities.