In the past year, the developer had completed over RM900 million worth of property investment properties, which are already starting to generate income for the group. These includes the new Sunway University Academic block opened last year, and the recently launched 27-storey Pyramid Tower West (401 rooms) and Nickelodeon Lost Lagoon which features 14 new attractions. Currently, the RM200 million Sunway Medical Phase 3 (245 beds, an oncology centre and 70 medical suites) is also being developed. Hence, by 2017 Sunway Medical Centre will have a total of 610 beds.
In Sunway Velocity, a 23-acre freehold integrated development where the developer had enjoyed robust sales averaging 90% take-up rate for its previous products due to the transit-oriented nature of the development (supported by two MRT and one LRT stations), its proximity to the City Centre as well as the integration of six components (retail, residences, commercial, hotel, healthcare and 2-acre public park); a shopping mall (1,000,000 sq ft; to be completed 2016), hospital (240 beds and 66 outpatient specialist clinics; to be completed 2018), hotel (350 rooms; to be completed 2017) are under development. Additionally, the developer will launch a new block of office suites with GDV of RM200 million in the second half of the year.
In other parts of the Klang Valley, Sunway will also launch the new Brook Residences, Mont Kiara (288 condominium units; GDV of RM200 million), and Sunway Gandaria Residences, Bangi (259 units serviced apartments; GDV of RM200 million) in the central region. The developer had launched Sunway Gandaria’s 34 retail units earlier this year in January, with a 95% take-up rate.
The developer is also planning a residential project on a 17-acre plot of land in Kelana Jaya with a total GDV of RM1.8 billion. It had also recently acquired 6.35 acres of land in Kg Subang through a joint venture vehicle for a proposed development of 45 terrace industrial units and another 4.8 acres of freehold industrial land in the Sungai Way Free Industrial Zone, Kelana Jaya for the proposed development of 14 semi-detached industrial units, both with a total GDV of RM200 million.
Southern Region – Johor : Launches of RM400 million
In Sunway Iskandar, where the developer had recently clinched a 75% take-up rate for its launch of 88 retail units for its Emerald Boulevard project; is also currently offering Emerald Residences at the Lakeview Precinct, Sunway Iskandar (222 units of two-storey link, super link, link cluster and three-storey semi-detached homes; GDV RM 330 million) that was recently launched. Moving forward, there will be another RM400 million GDV worth of mixed developments to be launched this year.
The opening of Citrine Retail (51 units) at the end of this year will add to the vibrancy of the Lakeview Precinct within Sunway Iskandar. The Lakeview Precinct is the first precinct in the 1,800 acre Sunway Iskandar which will integrate commercial, residential, education, and retail components surrounding the 20-acre Emerald Lake. Sunway International School (SIS) Sunway Iskandar, which represents its education component, will open in time with the completion of the Coastal Highway Southern Link (CHSL) in early 2017. The CHSL will provide even greater access to the development and is only 5 minutes away from the SIS campus.
Northern Region – Ipoh and Penang : Launches of RM 200 million
In Sunway City Ipoh, the second development phase of The Banjaran Hotsprings Retreat in Sunway City Ipoh will see 20 new villas added to the Retreat’s inventory; bringing a new total of 45 luxurious villas by 2017. Under development are also the Lost World Mall and Suites. The developer will be launching the Lost World Residences (262 units of serviced apartments; GDV RM 100 million) this year.
In Penang, the developer will be launching 48 units of two-storey semi-detached homes in Sunway Cassia, Batu Maung Phase 3 (GDV 100 million) in early April. Within the Sunway Penang integrated development, the developer is also expanding its Sunway Carnival Mall in Penang from 769,000 sq ft to 1,290,000 sq ft with future provisions for office tower of over 400,000 sq ft. It is also building a 180-bed Seberang Jaya Medical Centre and an expansion to its current hotel within the integration is underway to support Penang’s agenda to grow its medical tourism sector. A new 20,000 sq ft Sunway Penang headquarters (with sales gallery) is also being built in Jalan Anson.
Living Sunway, Living Community
In addition, Sunway Property will continue with its “Living Sunway, Living Community” campaign which encourages its communities to “live every dream, learn without limits, have work-life balance, and play beyond imagination in a safe, healthy and connected environment” will run online as well as on ground and will include many community events including World Environment Day family-edutainment activities throughout the regions as well as a Viper Challenge in Sunway Iskandar.
This year, the Master Community Developer has more reason to celebrate as it has been named the top property developer in the nation for two years in running at The Edge Property Excellence Awards and more recently, Property Company of the Year 2015 – Asia in the World Finance Real Estate Awards by World Finance, a UK-based financial magazine published by World News Media.
For more information on Sunway Property, please log on to: www.sunwayproperty.com.