KUALA LUMPUR (Feb 28): Sunway Property, the real estate arm of Sunway Bhd (KL:SUNWAY), has set a sales target of RM3.6 billion for 2025, following a strong performance in 2024, where it exceeded expectations by achieving RM3 billion in sales against a RM2.6 billion target, it said in a press release on Friday.

Last year, the company launched RM2.7 billion worth of properties and as of Dec 31, 2024, has RM3.3 billion in unbilled sales locally and internationally.

This year, the company has RM4 billion worth of new property launches and is looking to complete over RM2 billion in investment properties, according to the statement.

Chung Soo Kiong, who assumed the role of Sunway Property’s managing director in January 2025, aims to accelerate innovation, sustainable development, digital transformation and strategic acquisitions, the statement said.

“We want to deliver impactful value to our communities and stakeholders, while staying true to our ‘With You For Generations’ brand promise. “By deepening our presence in Singapore and China, and selectively entering new markets, we solidify our commitment to urban transformation, enhancing economic resilience, and future-proofing the cities we operate in,” he said.

“As Sunway Group embarks on its next 50 years and beyond, we will continue to build on our strong legacy, anchoring ourselves in long-term sustainable growth,” he added.

In Johor, new residential projects within its Sunway City Iskandar Puteri (SCIP) township in 2025 include Sunway Sakura (Phase 2) and L8 Linked Houses. Additionally, the Sunway Circuit Iskandar Puteri, a 4.5-kilometre multipurpose track, and Sunway Puteri Hills, an upscale dining hub, are set to be completed this year.

There will also be an RM8 billion Free Commercial Zone logistics hub, developed under Equalbase Sunway 103°, with Phase 1 set for completion by the end of 2025. The project is expected to create at least 13,000 jobs.

Beyond SCIP, Sunway Property is expanding into other key areas of Johor Bahru, with a high-rise development in Sunway Lenang Heights and a SoHo development in Yahya Awal, Johor Bahru City Centre.

The company is also developing a RM2.6 billion transit-oriented mixed-use project at Bukit Chagar, in partnership with Mass Rapid Transit Corporation Sdn Bhd (MRT Corp). Located near the First Causeway Link, the development will integrate residential, retail, healthcare, and hospitality offerings, according to the statement.

In the Klang Valley, upcoming residential launches include Sunway Serene 2 in Kelana Jaya, Sunway Flora 2 in Bukit Jalil, and Cochrane Residence in Cheras. Commercial expansions include new retail spaces at Sunway d’hill in Kota Damansara, and Jernih Residence in Kajang. The RM1.8 billion Sunway Square in Sunway City Kuala Lumpur, featuring office towers, a shopping mall, and an expanded Sunway University campus, is set to open in 2025, followed by the Sir Jeffrey Cheah Performing Arts Centre in 2026.

The developer is also planning a 245-acre managed industrial park in Kuang, Selangor, with integrated factories, warehouses and commercial spaces.

In the northern region, the developer continues to expand Sunway City Ipoh with RM4 billion worth of investment, including Sunway Medical Centre Ipoh, which is set to open in 2025, the one million square foot Sunway Ipoh Mall, which is projected to be Perak’s largest mall upon completion in 2027, alongside a planned Sunway Education campus. These components follow the final series of landed homes, known as Sunway Bayu, launched last year.

In Penang, Sunway Property has plans to launch a new high-rise residential project in its Sunway Wellesley development in Bukit Mertajam in 2025. The refurbishment of Sunway Carnival Mall is on track for completion in 2025.

On the international front, the developer remains focused on Singapore and China.

In Singapore, where it has completed 13 developments since 2007, and has delivered 10,700 units with a gross development value (GDV) of S$14.5 billion, the developer plans to introduce another executive condominium in Tengah this year. This follows the launch of Novo Place, an executive condo in Tengah, and the acquisition of a mixed-use site in Tampines last year.

In China, Sunway Property is set to launch Sunway Gardens Phase 3 in Tianjin Eco-City in 2025. 

According to the statement, the company is exploring expansion opportunities in Cambodia, Vietnam, and Indonesia, with a focus on integrated developments and healthcare.