Artist impression of Sunway Valley City at Paya Terubong

Sunway Bhd’s property division, Sunway Property has set a sales target of RM2 billion in 2020. It has recorded RM1.55 billion in sales in 2019 surpassing the year’s target of RM1.3 billion. Unbilled sales stood at RM2.8 billion to date.

Speaking at a media briefing yesterday, Sunway Bhd property division managing director Sarena Cheah said Sunway Property will be launching properties worth almost RM3.5 billion in gross development value (GDV) this year. Of that amount, 70% (RM2.4 billion) will be properties in Singapore while RM1 billion will be projects in Malaysia.

“We target a sales number of RM2 billion or more depending on how the market is doing. We are a bit more conservative for the Malaysian side, depending on how it goes,” said Cheah.

“Both local and international properties are expected to contribute about 50:50 to the sales target for the year. But there is a potential for the international segment (especially Singapore) to contribute slightly more given the stronger currency,” she added.

In Singapore, Sunway Property will be launching three residential properties worth RM2.4 billion – Parc Canberra, Ki Residence and Park Avenue Residences. It will also be making headways into China, UK and Australia as well.

In terms of land banking activities, Cheah said Sunway Property aims to be “more aggressive” in acquisitions this year both in Malaysia and overseas after acquiring about 33 acres of land last year worth slightly over RM4 billion.

Here’s what’s in store for the year:

“A majority of launches in Malaysia this year would be priced from RM600,000 – RM800,000. We believe (the pricing) would be a sweet spot for the majority of the population as we have seen encouraging take-ups from our recent launches of around the price range,” explained Cheah.

Meanwhile in Penang, the developer will launch its first commercial offering in the state, the 25-acre Sunway Valley City. The development has a GDV of RM2.4 billion and will be located in Paya Terubong, Ayer Itam. Currently, Sunway Medical Centre Seberang Jaya is being built.

For the Klang Valley, several launches are planned for 2020 – worth some RM691 million. These include Sunway Avila Retail (retail shops), serviced apartments at Sunway Velocity TWO Tower C and Sunway Belfield Tower A.

Besides that, RM573 million in investment properties consisting of an office tower and the expansion of a student accommodation are currently under construction at Sunway City Kuala Lumpur.

Down south in Johor, the developer will be launching Sunway Maple townhouses (GDV: RM100 million) while the 288-room hotel Sunway Big Box Hotel is set to be completed this year.

Source: EdgeProp.my

Today, the Chief Minister of Penang YAB Chow Kon Yeow officiated the groundbreaking ceremony of GEM Soho, a freehold development of 978 units and 15 commercial shops along Jalan Baru connecting North-South Highway and Butterworth Outer Ring Road (BORR) and the future public infrastructure LRT and Monorail under the Penang Transportation Master Plan (PTMP). The groundbreaking ceremony was held at GEM Sales Gallery located on Jalan Seberang Perai.

GEM Soho – Redefining Urban Condo Living In Seberang Perai

GEM Soho is a joint development between Belleview Group and LTC Group under Regata Maju Sdn Bhd (“RMSB”) for the development of a parcel of prime land located at Jalan Baru measuring approximately 5.34 acres. This development project is the first Transit Oriented Development (TOD) in Seberang Perai for RMSB.

Poised to be the new ‘Heart’ of Seberang Perai, GEM Soho is a freehold development bearing a total gross development value (GDV) of RM600million, and will introduce a new standard of living in Seberang Perai featuring 978 units of well-designed modern living spaces housed within four residential blocks of 38-storey each – Coral, Ruby, Sapphire and Diamond. Featuring eight layout designs of one to four bedrooms, sized from 441 sq ft to 1,445 sq ft. Every elegant residence is artfully curated to pamper the senses and come with striking seaview of the Penang Bridge, Penang island and the cityscape of Butterworth and Bukit Mertajam.

The ‘GEM’ of Northern Region Malaysia

GEM Soho is optimally positioned in the heart of Seberang Prai, along the six-lane Jalan Baru connecting the North-South Expressway and Butterworth Outer Ring Road (BORR). The prime location is remarkably accessible with a short 7 minutes drive to the Penang Bridge and 30 minutes to the Penang International Airport. It is bordered by a host of amenities to provide residents with complete convenience, especially being neighbours with GEM Mall, the largest shopping mall in the Northern Region Malaysia.

With a comprehensive pipeline of public infrastructure announced under the Penang Transport Master Plan (PTMP), linking both Penang island and Seberang Perai via LRT and Monorail for better convenience and connectivity, GEM Soho will be the first Transit Oriented Development (TOD) in Seberang Perai. Transit Oriented Development is an exciting fast growing trend in creating vibrant, livable, sustainable communities. Also known as TOD, it’s the creation of compact, walkable, pedestrian-oriented, mixed-use communities centered around high quality train systems.

With a targeted completion in year 2022, GEM Soho stands as the new star address for the local and foreigner investors. Managing Director of Belleview Group Dato Sonny Ho said there are demands for homes and investment in Seberang Perai.

Managing Director of Belleview Group Dato Sonny Ho emphasise that “GEM development will transform Seberang Perai with modern living standards, mega shopping experiences and impressive 4-star hotel facilities”. “We are very pleased with the joint effort of Belleview Group and LTC Group to bring GEM Soho to life. We are optimistic that GEM will be well received by locals and foreigners with its unique features that is centred around conveniences, strong selling attributes, attractive pricing and announced public transportation plans for Seberang Perai. In addition, with an average selling price of RM500 per square foot onwards and RM500k threshold for foreigners to purchase urban high-rise properties in Seberang Perai only, I am confident that this will attract local and foreigner interest adding a huge boost to the economic development of Seberang Perai city,” he said.

He added that the collaboration with LTC Group would further heighten the quality of property development and living standards in Seberang Perai, transforming the city into a more livable city.

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The Penang government regards 2020 as an important year for the state as several state infrastructure projects will take off in the next 12 months.

Chief Minister Chow Kon Yeow said among the projects that will start this year are the Penang airport expansion, construction work on the redevelopment of the Swettenham Pier Cruise Terminal and package two of the Penang Transport Master Plan (PTMP).

“All these infrastructure projects are expected to start this year, and if not start work then a signing agreement and tender processes will also take place,“ he told reporters after flagging off the City Walk here yesterday.

He said these projects would spur the state economy by providing more jobs and contracts to the relevant sectors.

Chow said these infrastructure projects would also attract more investment to the state.

“What we announced last year will probably move into the construction phase this year, before jobs can be created.

“But jobs would have been created for those announced two years ago,“ he said.

Chow, who is also the state assemblyman for Padang Kota, said the state government has nothing to hide regarding the Package 2 project PTMP linking Bandar Baru Air Itam in Farlim to Tun Dr Lim Chong Eu Expressway here.

He explained that all details of the projects have been included in the environmental impact assessment (EIA) display, including the 19 affected graves at the Batu Lanchang cemetery.

“I have got nothing to hide regarding the project and it is all in the EIA display. If people do not take it out, what can we do? Only they (Gerakan) took a long time to find out,“ he said.

Chow was commenting on the claim by Gerakan that the state government was hiding the fact as it was not mentioned earlier that the project would affect 19 graves in Batu Lanchang.

Last Monday, the state government announced that several meetings were held with the United Hokkien Cemeteries Penang at Batu Lanchang to discuss the status of some more than 100-year-old graves that will be affected by the project.

Source: Bernama