Higher sales target by Sunway Property

by | Jul 9, 2021 | Business, PROPERTIES | 0 comments

Owing to the group’s strong performance in Singapore, Sunway Property is revising upward its 2021 sales target to RM2.2 billion from the RM1.6 billion it had set early this year. This revision is seen by property market analysts as pragmatic.

The property developer disclosed that its Singapore projects recorded sales in excess of RM1 billion which was mainly due to the successful launches of Ki  Residences, which is a private condominium in Clementi, and Parc Central, an executive condominium in Tampines.

Much to the surprise of Sunway Property the projects have so far managed to achieve a commendable take-up of 55 percent and 80 percent respectively which industry watchers consider impressive.

In Malaysia, the launch of Sunway Belfield, which is located within the Kuala Lumpur city centre, has also been well received. With a Gross Development Value (GDV) of RM330 million, the first tower of the development is almost completely sold despite being launched early this year.

In view of this strong showing, the developer has brought forward the launch of the second tower at Sunway Belfield which has a GDV of RM360 million. Overall, the take-up for both towers at Sunway Belfield so far is about 75 percent.

The company revised its sales target after being encouraged with the sales achieved up to now especially in Singapore where the real estate market is still performing very strongly.

In spite of challenges posed by various lockdowns in 2020 and 2021, Sunway Property is working hard towards handing over a total of 570 units of new homes.

This will comprise 420 units of condominiums and 44 units of townhouses in SunwayGEOLake in Sunway City Kuala Lumpur and 106 units of Sunway Citrine Lakehomes in Sunway City Iskandar Puteri.