KUALA LUMPUR: Sunway Property, the real estate division of Sunway Group, plans to expand into emerging markets like Cambodia, Vietnam, and Indonesia, focusing on healthcare and integrated developments.
At the same time, it aims to strengthen its presence in its key markets like Singapore and China, including Malaysia
With RM4 billion in new property launches and over RM2 billion in investment properties set for completion in 2025, Sunway Property is driving regional and international growth.
In Singapore, it plans to launch a new executive condominium in Tengah, catering to demand for sustainable, high-quality developments.
Sunway Property’s strategic expansions and disciplined investment approach position the company for long-term growth.
“By deepening our presence in Singapore and China and selectively entering new markets, we solidify our commitment to urban transformation, enhance economic resilience, and future-proof the cities we operate in,” said Chung Soo Kiong, the company’s new managing director who was appointed in January 2025.
The company targets RM3.6 billion in sales for 2025, following a strong 2024 performance where it surpassed its RM2.6 billion target, achieving RM3 billion in sales. With RM2.7 billion in new launches and RM3.3 billion in unbilled sales as of December 31, 2024, Sunway Property is well-positioned for sustained expansion.
In Johor, Sunway Property is accelerating investment in Sunway City Iskandar Puteri (SCIP), capitalising on growth opportunities from the Johor-Singapore Special Economic Zone (JS-SEZ) and the upcoming Rapid Transit System (RTS) Link, expected to be operational in 2026. Already over 30% developed, the township spans nearly 2,000 acres with a gross development value (GDV) exceeding RM30 billion. Key projects include the RM8 billion Free Commercial Zone logistics hub, Equalbase Sunway 103°, with Phase 1 set for completion by the end of 2025.
Beyond SCIP, the company is expanding in Johor Bahru with high-rise developments in Sunway Lenang Heights and SOHO units in Yahya Awal and Johor Bahru City Centre, addressing rising demand for urban living. It also signed an agreement with MRT Corporation in February 2025 to develop a RM2.6 billion integrated mixed-use project at Bukit Chagar, adjacent to the RTS Link, enhancing cross-border connectivity.
In the Klang Valley, upcoming residential projects include Sunway Serene 2 in Kelana Jaya, Sunway Flora 2 in Bukit Jalil, and Cochrane Residence in Cheras. Retail expansions feature Sunway d’hill in Kota Damansara and Jernih Residence in Kajang. The RM1.8 billion Sunway Square in Kuala Lumpur, set to open in 2025, will include office towers, a shopping mall, and an expanded Sunway University campus, followed by the Sir Jeffrey Cheah Performing Arts Centre in 2026.
Sunway Property is also planning a 245-acre managed industrial park in Kuang, Selangor, integrating factories, warehouses, and commercial spaces to meet growing industrial demand.
In Ipoh, the company continues expanding Sunway City Ipoh with Sunway Bayu, its final series of landed homes, launching in 2024. Future investments include Sunway Medical Centre Ipoh, opening in 2025, and a 1-million-square-foot Sunway Ipoh Mall, set to become Perak’s largest mall by 2027, alongside a new Sunway Education campus.
In Penang, Sunway Property is strengthening its residential presence in Sunway Wellesley, Bukit Mertajam. Following the success of Serene Villas, a new high-rise residential project is slated for a 2025 launch. The refurbishment of Sunway Carnival Mall remains on track for 2025, reinforcing its role as a key commercial hub in the region.
Source: NST, viewed 27 February 2025