"Even so, given its strong brand equity and parentage, we think SunCon will be able to recover from this event without impacting its new order wins materially over the longer term.
“SunCon is also currently seeking legal counsel to evaluate the appropriate actions to be taken on certain sub-contracts and parties.
Located within the Mukim of Rawang in the Gombak district, the site is accessible via the LATAR Expressway and is near the Kuang Industrial Area and Rawang Industrial Park.
As part of the bigger Sunway City Kuala Lumpur in Subang Jaya, Selangor, the development has 473 rooms for lease.
Sunway d’hill Residences, launched in 2022, has achieved a 70% take-up rate for its 976 apartment units.
The new site is located within the integrated Sunway Velocity TWO development, building on the momentum from their first joint effort at Sunway Putra, which reached full occupancy within a month.
In an exchange filing, YNH Property said its wholly owned units Kar Sin Bhd and YNH Hospitality Sdn Bhd, together with RHB Trustees Bhd, the trustee of Sunway REIT, have mutually agreed to extend the conditional period of their sale and purchase agreement (SPA) signed on Jan 20, 2025.
Sunway REIT said the sale is part of Sunway REIT’s strategy to recycle assets.
Sunway Square Mall will mainly comprise leisure and entertainment offerings with key tenants such as Village Grocer, BUMP Bouldering, TGV Cinemas, The Library by BookXcess, COUNT, KKV, Tutu Toe Dance Academy and GoFit.
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