Sunway Property plans RM2bn launch of residential properties in 2018

Sunway Group's property division Sunway Property plans to launch approximately RM2 billion worth of residential properties across eight locations in 2018, doubling RM1.1 billion worth of properties launched in 2017.Sunway Property will also launch about RM610 million new investment properties including healthcare, commercial and hospitality assets in its flagship integrated townships and major integrated developments, The Star reported. Among the list of launches include Sunway Citrine Lakehomes, Sunway Onsen Suites, designer shops in Sunway Wellesley, Sunway Geo, and a condominium in Sunway Rivercove Residence in Singapore.According to Sunway's property division managing director, Sarena Cheah, the company will assist new homeowners in capitalising on the various opportunities it is offering. It it also helping new homeowners to be part of its growing community through the new Under the SUN Certainty + financing campaign.Last year, the Sunway said it plans to explore new avenues of growth to keep up with the changing business landscape, while expanding its portfolio of core businesses domestically and regionally. Founder and executive chairman Tan Sri Dato’ Sri Dr Jeffrey Cheah AO said while its current businesses are doing well, it is fully aware on its need to find new horizons if it is to “continue to thrive in the decades ahead”.The news came as Sunway reported a net profit of RM233.3 million in second quarter ended 30 June 2017, a jump of 29.7% from the same quarter last year, due to better performance from most segments including its retail, property, hospitality and education. The company also appointed Gerard Kho as the chief marketing officer of Sunway Property last year.