Sunway College to be built at Sunway Valley City
Sunway Bhd is set to launch various projects with a total gross development value (GDV) of RM5 billion in Penang over the next 10 years.
Sunway Bhd Property Division for Malaysia and Singapore Managing Director Sarena Cheah said of the amount, about RM2 billion would be for long-term investment projects, including malls and hotels.
She said one of the company’s major development plans on Penang island would be the Sunway Valley City, a RM2 billion integrated project in Paya Terubong.
The mixed-development project, spanning over a 24-acre site (9.7 hectares), is divided into four phases, comprising shop offices, a service apartment, a shopping mall, an education institute (Sunway College), an office tower and a medical centre, she told reporters at the launch of Sunway’s new headquarters for the northern region in Anson Road here.
“Sunway Valley City is expected to change the landscape of Air Itam and Paya Terubong. We hope to provide something exciting for the population there, where they do not need to travel out for leisure and entertainment,” she said.
On Sunway’s projects on Penang’s mainland, she said the group would expand and enhance the Sunway Carnival Mall in Seberang Jaya over the next five years.
She said the mixed-development project in Seberang Jaya would include the 400-bed Sunway Medical Centre, Sunway’s first healthcare centre in Penang, which would be built in two phases.
The first phase of the medical centre will have 250 beds and will be equipped with advanced facilities to cater to the needs of the local community, she said, adding that the groundwork would begin once the group obtained its approvals and it would take up to three years to be completed.
Another project on the mainland is the Sunway Wellesley in Bukit Mertajam, for which the group expects to launch the third phase of 10 units of shops in September, she added.
Sunway Property in Penang has a total land bank of 165.9 hectares to date and has developed more than 2,500 residential homes and commercial units both on the island and mainland since its inception in 1992.
Source: Bernama
details on service apartment
Detail of project and location with layout and price…tq
When will this project be launch?
paya terubong/ayer itam/farlim is booming with 2 big malls (Sunshine mall and Sunway malls).
but can it really booming ?
this is not gurney, how can it boom with all low cost people surrounding ?
What do you mean by Low Cost People? Even popular areas such as Jelutong and Karpal Singh Drive nearby also have a lot low cost flat. Now don’t forget there will be a new road connecting Bukit Jambul to Farlim. Additionally, IJM has several developments along the way. In ten years time, Sunway and EcoWorld completed projects will bring prospect to the surrounding areas. If Paya Terubong/ Ayer Itam/ Farlim is so worst, why EcoWorld and Sunway choose to develop that area? Surely they spent some effort on research and confirm there’s a potential for that area. Just give them some time to boom.
@Property Investor
“Surely they spent some effort on research and confirm there’s a potential for that area”?? Haha, you are wrong. These KL developers normally get it wrong in Penang. Paya Terubong was EcoWorld’s first venture in Penang, big mistake for them and they realized it after launching that condo in Paya Terubong. So quickly they switched their focus to Batu kawan.
Mah Sing, big mistake with their big land purchase in Batu Maung, their property prices in that area has been sliding down very fast in the past 12 months. But it has no choice but to continue to develop that land. Mah Sing also has realised their mistake there, and switched focus to Batu Kawan.
So don’t think these big companies don’t make mistake, they actually do. But they can afford to make such mistakes because compared to what they have in their overall portfolio in Msia, it’s small kacang for them. Plus they have no choice as big pieces of development land is not easy to come by in Penang.
@laukau
Agree with you, Mahsing and EcoWorld flop big time in their Southbay and Eco terrace projects.
They thought PG people will still buy it with their branding power. But they totally forgot Penang ppl are super smart, count until grass also no left (算死草 cantonese)
People who grew up in this area will know very well the growth potential of this area is almost close to none.
Those who made it were moved out when they were able to much better places.
If indeed they had really spent research on these areas beforehand then those who did the research for them ought to be given a big kick in the butt.
I heard Sunway bought that Paya Terubong land from Lee Rubber at a very cheap price, somewhere Rm250 per sg ft. Therefore, Sunway can make it very easy over that ?
Need more detail info. On the propose project.