SunCity positive on property launches

Posted on | July 6, 2010

By BERNAMA


SUNWAY City Bhd (SunCity) (6289), developer of the Sunway Integrated Resort City in Bandar Sunway, Selangor, expects prices at its property launches to increase by 20 per cent this year compared to the levels in 2008.

Its managing director of property development in Malaysia, Ho Hon Sang, said this was in line with current market trends.

“SunCity’s launches for this year will mainly be in the Klang Valley, with a gross development value of RM1.5 billion,” he said in an interview

Ho believes that SunCity’s premium pricing strategy of focusing on properties with “green initiatives” that promote quality of life will place it well ahead of competitors.

“Our property prices are usually 10-20 per cent above the competitors’,” he said.

According to Ho, the Malaysian property market is not expected to enter a bubble stage despite rising prices because of the limited supply of land in prime areas and ample liquidity at banks and institutions such as the Employees Provident Fund.

- Malaysia Real Estate news

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