Sunway Berhad has provided an update on several joint ventures and project collaborations undertaken by its subsidiary, Sunway Developments Pte Ltd (SDPL), in Singapore, as well as the status of its existing memorandum of understanding (MoU).
In a filing with Bursa Malaysia, the group detailed progress on four major property development ventures in Singapore involving partnerships with Hoi Hup Realty Pte Ltd and Sing Holdings Residential Pte Ltd (SHRPL).
The ventures, all secured through tenders from Singapore’s Housing and Development Board (HDB) and Urban Redevelopment Authority (URA), include:
Tengah Plantation Close (E2) – Awarded in September 2023 for an executive condominium housing project valued at S$348.5 million (RM1.2 billion). The land has been acquired by a joint venture company with Hoi Hup and SDPL holding equity interests of 65% and 35%, respectively.
Tengah Plantation Close (Lot 05428V/MK10) – Secured in February 2024 for S$423.38 million (RM1.5 billion) for another executive condominium development in Tengah. The project is currently in progress, with the same 65:35 equity structure between Hoi Hup and SDPL.
Tampines Street 94 Mixed-Use Development – Awarded in October 2024 for S$668.28 million (RM2.19 billion) to develop a mixed commercial and residential project. The site has been acquired through a 65:35 joint venture between Hoi Hup and SDPL, and construction is ongoing.
Chuan Grove Residential Development – Most recently, in July 2025, Sunway secured a S$703.6 million (RM2.33 billion) tender from URA for a residential development at Chuan Grove, in partnership with Sing Holdings Residential Pte Ltd. The land has been acquired by a joint venture company, with SHRPL and SDPL holding 65% and 35% stakes, respectively.
Sunway also reported that there has been no further update on its 2012 Memorandum of Agreement between Sunway Spun Pile (Zhuhai) Co. Ltd, a Sunway subsidiary, and Concrete Engineering Products Berhad.
The MoU was established to explore potential collaboration in the production, marketing, and sales of precast concrete products leveraging both parties’ expertise and production know-how.
