The proposed RM2.6bil integrated mixed-use development at Bukit Chagar.
KUALA LUMPUR: Sunway Property is targeting RM3.6bil in sales for 2025, building on a strong 2024 where it achieved RM3bil in sales. The company holds RM2.7bil in new launches and RM3.3bil in unbilled sales as of Dec 31, 2024.
Sunway Property is boosting investment in Sunway City Iskandar Puteri (SCIP), capitalising on growth from the Johor-Singapore Special Economic Zone (JS-SEZ) and the upcoming Rapid Transit System (RTS) Link, expected in 2026. SCIP, over 30% developed, covers nearly 2,000 acres and is located 5km from the Second Causeway Link, with a gross development value (GDV) exceeding RM30bil. It’s designed as a smart sustainable city and is evolving into a vibrant community hub.
Within the township, new residential launches in 2025 include Sunway Sakura (Phase 2), L8 Linked Houses, Sunway Circuit Iskandar Puteri, a 4.5km multipurpose track by Sunway Puteri Hills, an upscale dining hub alongside an indoor golf and an urban farm.
There will be an RM8bil-free commercial zone logistics hub featuring integrated warehouses under Equalbase Sunway 103. Phase 1 is scheduled for completion by end-2025, with a full lease-up expected upon completion. This development will drive significant growth over the next decade and create at least 13,000 jobs for Johoreans.
Beyond the township, an upcoming high-rise development in Sunway Lenang Heights and SOHO units in the Yahya Awal area within Johor Bahru City Centre will cater to the growing demand for integrated urban living.
In February 2025, Sunway Property entered an agreement with MRT Corporation to jointly develop a RM2.6bil integrated mixed-use development at Bukit Chagar, next to the RTS Link, bordering the First Causeway Link. The transit-oriented development (TOD) will drive cross-border connectivity, introduce new commercial and lifestyle opportunities and feature residential, retail, healthcare and hospitality.
Klang Valley expansions
Upcoming residential launches include Sunway Serene 2 in Kelana Jaya, Sunway Flora 2 in Bukit Jalil and Cochrane Residence in Cheras while new retail spaces will be introduced at Sunway d’hill in Kota Damansara and Jernih Residence in Kajang.
The RM1.8bil Sunway Square in Sunway City Kuala Lumpur, set to open in 2025, features two office towers, a shopping mall and an expanded Sunway University campus. The Sir Jeffrey Cheah Performing Arts Centre will follow suit in 2026.
To meet growing industrial demand, Sunway Property is in the early stages of planning a 245-acre managed industrial park in Kuang, Selangor, integrating factories, warehouses and commercial spaces.
Northern expansions
In Ipoh, Sunway Property continues expanding Sunway City Ipoh with Sunway Bayu, the final series of landed homes in 2024. This 1,350-acre township is set to receive an additional RM4bil investments, including Sunway Medical Centre Ipoh, set to open in 2025, and Sunway Ipoh Mall, expected to be Perak’s largest mall upon completion in 2027, alongside a planned Sunway Education campus.
In Penang, the developer is strengthening its residential presence within Sunway Wellesley in Bukit Mertajam. Following the successful launch of Serene Villas, a gated community with 210 townhomes, a new high-rise residential development within the same masterplan is set to launch in 2025. Meanwhile, the refurbishment of Sunway Carnival Mall is on track for completion in 2025, reinforcing its position as a key commercial hub.
International expansions
Looking ahead to 2025, Sunway Property is preparing to launch another executive condominium in Tengah, capitalising on the demand for sustainable, high-quality developments.
In China, Sunway Property is set to launch Sunway Gardens Phase 3 in Tianjin Eco-City in 2025, showcasing its commitment to integrated urban living.
While Singapore and China remain core markets, Sunway Property is selectively evaluating expansion into one or two emerging markets, including Cambodia, Vietnam and Indonesia, with a focus on healthcare and integrated developments.
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