Sunway Property targets RM2 bil sales in 2020

By Sharina Ahmad

SUNWAY Property has raised its 2020 property sales target to RM2 bil, surpassing its sales target of RM1.3 bil last year. The property developer recorded RM1.55 bil in sales in 2019.

The managing director of Sunway Bhd’s property division Sarena Cheah said: “We will be increasing our sales target to RM2 bil. In tandem, we will also launch RM3.5 bil worth of properties this year.”

During the company’s business update and media briefing 2020, Cheah said out of nearly RM3.5 bil worth of properties in gross development value (GDV) to be launched, RM1 bil worth will be in Malaysia and RM 2.4 bil (70%) will be in Singapore. 

This is in line with its plans for geographical diversification.

“Sunway’s recurring income from our portfolio of invested properties currently strengthens our financial sustainability. Geographical diversification will further deepen sustainability for us,” Cheah says.

 She adds in line with its master community developer brand promise, powered by its build-own-operate model, the company will continue to invest in integrated townships and developments to ensure growth for our communities with about RM1.1 bil of investment properties currently being built. 

 As of December 2019, Sunway Property has 3,362 acres of land bank with a GDV of RM59 bil and a total development period of up to 15 years.

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