Sunsuria targets RM1 billion annual launches

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12 June 2012

Our regular client, Sunsuria Group targets to launch at least RM1b of property developments annually in the next four to five years, as the company plans to make its brands more well-known in the industry.

In an interview with The Edge Financial Daily, Sunsuria executive chairman Datuk Ter Leong Yap said its current land bank mostly in the Klang Valley would be enough to churn our RM1 billion worth of projects for five years.

Ter said future launches will be gauged according to market reception. The deteriorating global economy has as a result of the Eurozone debt crisis and the financial tightening by Bank Negara Malaysia (BNM) may impact demand for properties in certain categories.

Last year, Sunsuria launched RM500 million worth of property developments. They include high-rise SoHo (small office home office) project in Bukit Jelutong, Suria Jelutong I which comprises of service suites and retail units, worth RM300 million and RM200 million for semi-detached shops in Sunsuria 7th. Avenue in Setia Alam.

Unitech has been appointed as Consulting Quantity Surveyors for Suria Jelutong I and II. The Main Contract Works for Suria Jelutong I have been awarded and the construction work is progressing well.

This year the Group will launch the second and third phases of its projects in Bukit Jelutong with a projected gross development value from RM400 million to RM500 million.

Although the company’s projects are mainly in centred in the Klang Valley, Ter said Sunsuria is looking at Penang and Johor Bahru as the next hot spots to venture into.

Sunsuria – Suria Jelutong I Service Suites, Selangor