Living & Property
Carving out a niche
Fara Aisyah | 17 Mar 2017 00:30
While many developers are approaching the market with caution this year, Sunway Integrated Properties Sdn Bhd, the property arm of Sunway Bhd, is taking a more vigorous stance, with several initiatives aimed at pushing forward sustainable growth within its operations this year. These include an aggressive landbank expansion policy, with a focus on strategic purchases suitable for transit-oriented projects as well as standalone developments.
In line with this direction, it recently added 8.45 acres of prime land along Jalan Peel in Kuala Lumpur to its portfolio, to be developed under the Sunway Velocity label. The acquisition brings the developer’s current landbank to approximately 3,301 acres distributed among sites in Klang Valley, Johor, Penang, Singapore and China.
Building on a legacy
“We are delighted to own this new project, which will be built directly opposite Sunway Velocity and named as Sunway Velocity Two. This development will augment the continuous growth of the former’s whole community in many ways,” says Sunway managing director (property development division) Sarena Cheah.
For the convenience of visitors and the surrounding community, the developer plans to build linkways between the two projects. On top of that, the location is accessible from a number of major routes, including Jalan Tun Razak, the New Pantai Expressway (NPE), Maju Expressway (MEX) and more. In addition, the project will be served by two upcoming stations in Klang Valley’s growing rail infrastructure network, namely Cochrane Station and Maluri Station in the Sungai Buloh–Kajang line, with the latter also serving as an interchange station to the Ampang LRT line.
Sunway Velocity Two is estimated to have a gross development value (GDV) of RM2 bil, with the scale of the project as a testament to the developer’s commitment despite the troubled market. It will comprise primarily of residential units, complementing Sunway Velocity’s commercial focus.
Both developments are representative of Sunway Property’s strategy of establishing attractive properties in highly accessible areas, which are further boosted with value-add packages to meet the priorities of its potential buyers in 2017. The firm has set a sales target of RM1.1 bil this year, with project launches in Malaysia contributing about 90% of this figure.
“We are confident that these future projects will succeed as most of them are integrated properties. This year’s plan models our achievements from last year, where we had performed best in that particular segment. Our expertise in building, owning, and operating developments translates to our positioning as a master community developer, since we are capable of nurturing, co-investing and building better community living from both physical and social aspects,” concludes Cheah.
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