The Star, Photo Credit to The Star
clock 25-01-2019
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Sunway Property Launches Super 5 Easy Home Ownership Scheme

Sunway Property launched its Super 5 easy home ownership scheme on Thursday to make it easier for buyers to own a home through its 95% guaranteed financing for eligible buyers.

The managing director of Sunway Bhd's property division, Sarena Cheah said the scheme allows purchasers to pay RM5,000 to own a unit and a flexi instalment plan for the differential sum.

Sunway's group of companies will offer a 95% guaranteed financing for eligible buyers with special interest rate during this campaign period.

"In addition to the government's waiver of MOT (stamp duty) for first time house buyers, Sunway will absorb the stamp duty for the transfer of ownership for properties above RM1mil.

"The Super 5 provides a free financial health check that will help aspiring homeowners on their financial credibility. It is a quick and easy way to assess purchaser's financing standing in order to own their dream home during this campaign period," she said.

Cheah also said Sunway Property will target sales of RM1.3bil for the financial year of FY2019 and launch projects worth RM2bil this year.

She was confident the launches would continue to do well as more than 70% of the new launches were either in integrated developments and townships.

"In our integrated townships and developments, we currently have RM3bil investments under construction so we can grow in tandem with our communities," she added. Sunway Property has unbilled sales of RM 2.1bil providing future earnings visibility.

Under its growth startegy, Sunway Property will continue to pursue landbanking activities suitable for transit-oriented and mixed-use developments in Malaysia, Singapore, Australia and the UK.

Its current landbank in diversified locations is 3,289 acres with a total GDV of RM56.8bil.

It said 54% of the landbank was in Johor, 25% in Klang Valley, 6% in Penang, 1% in Singapore, and 14% in other locations.

Klang Valley

In the Klang Valley, Sunway Property will launch the second block of the first phase of Sunway Velocity TWO which is a high-rise residential development with a GDV of RM300mil; a high-rise residential development in Wangsa Maju, Sunway

Avila with a GDV of RM230mil, and townhouses in Sunway GEOLake Residences in Sunway South Quay with a GDV of RM100mil.

Sunway Property said projects underway in the Klang Valley were the 240-bed Sunway Medical Centre in Sunway Velocity; Sunway Monash University Residences, an expansion of Sunway Medical Centre, and an expansion of the Sunway International School in in Sunway City KL worth RM1.6bil.

Southern region

In the southern region, it will launch townhouses and phase three of Sunway Citrine Lakehomes in Sunway Iskandar worth RM100mil in GDV and landed residential units in Sunway Lenang Heights with a GDV of RM160mil.

Property investments under construction are the expansion of Sunway International School, Big Box Retail, Big Box Office, and Big Box Hotel worth RM445mil in total.

The 24-acre Sunway Big Box Village will be the first large format retail village in Malaysia and Singapore. It will be designed in an open concept, the all-new retail experience.

It will encompass 500,000 sq ft (GFA) in retail space, and will be completed by the fourth quarter of 2019.

As for Sunway Citrine Hub within Sunway Iskandar, the 71,000 sq ft (NLA) hub is 100% tenanted.

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