- Sunway will be launching projects worth RM5 billion in GDV in Penang over the next 10 years, Sunway Valley City Integrated Development.
- RM2 billion allocated for long-term investment projects.
- The mixed development project has four phases featuring shop offices, serviced apartments, a shopping mall, a Sunway College branch campus, an office tower, and a medical centre.
Local Penangites and tourists alike can look forward to more malls and hotels in the island state of Penang, as Sunway Property plans to launch more projects there.
Sunway began its journey in Penang in 1992 with its property development, hospitality and retail divisions. With the recent launch of its Green Building Index-certified sales gallery and regional office located at Jalan Anson in the heart of Georgetown, Sunway Property continues to uphold its lifelong commitment to growing alongside Penangites.
Sunway Property’s various projects for the upcoming decade have a total gross development value (GDV) of RM5 billion, of which about RM2 billion will be allocated for long-term investment projects. Sunway Valley City, the RM2 billion integrated project in Paya Terubong, is set to be the crème de la crème among the line-up of properties.
The mixed development project will span over a 9.7ha site and has four phases featuring shop offices, serviced apartments, a shopping mall, a Sunway College branch campus, an office tower and a medical centre.
Sunway Valley City is expected to change the landscape of Air Itam and Paya Terubong.
In the meantime, Sunway’s first integrated city in Penang, Sunway City Seberang Jaya, will be expanded and enhanced phase by phase over the next five years. The city will be home to a 400-bed Sunway Medical Centre, which will be the conglomerate’s first healthcare facility in Penang.
Sunway Carnival Mall in Seberang Jaya will also be expanded and undergo a refurbishment exercise over the next five years, while Phase 3 of integrated development Sunway Wellesley – a total of 10 retail lots – was launched in Bukit Mertajam in September.
Since 1992, Sunway Property has amassed a total landbank of 165.9ha, with more than 2,500 residential homes and commercial units on both the island and mainland. Its unique ‘Build-Own-Operate’ business model has powered the multiple divisions in Penang, making it the largest co-investor in integrated developments with a commitment towards sustainability.