Sunway Property Eyes RM1.1 Bln Sales In 2017

Last update: 14/02/2017KUALA LUMPUR, Feb 14 (Bernama) -- Sunway Property aims to achieve RM1.1 billion sales this year on the back of new launches.

Sunway Bhd Managing Director of Property Development Division for Malaysia and Singapore Sarena Cheah said the group planned to launch between 10 and 12 projects in Malaysia and another in China, with a gross development value (GDV) of RM2 billion, this year.

"Despite the number of launches this year, we remain cautious, each launch would be dependent on market demand.

"Modeling our success from last year, we are confident that these launches will do well as most of them are integrated properties," she told a media briefing here Tuesday.

Meanwhile, Cheah said Sunway Property, the property division of Sunway Bhd, is expanding the Sunway Velocity Two in Cheras after adding a 3.42-hectare land in Jalan Peel to its land bank recently.

Located across Sunway Velocity Mall, the project, under a 10-year tenure, would comprise 70 per cent residential units, complementing the mall's 75 per cent commercial units.

"With an estimated GDV of RM2 billion, we plans to build link ways between the mall and Sunway Velocity Two," she said.

Besides the Sunway Velocity development, the project will be enhanced with the completion of a hotel, a medical centre and two corporate office towers which were already under construction.

Currently, the group' total land bank stood at 1,336 hectares.