The future is bright for Sunway Bhd, who aim to launch US$484 million worth of properties in the 2013 financial year.
Sunway Bhd is set to take full advantage of the price disparity between properties in Iskandar Malaysia and Singapore to secure the future of the company, reported the Borneo Post.
The asking price for terrace houses in Horizon Hill range from RM400 (US$129) to RM500 (US$161) per square foot, compared to terrace houses in Singapore?s District 19 which range from S$1000 (US$808) to S$1,200 (US$969) per square foot, according to research by MIDF Amanah Investment Bank Bhd.
Property prices in Singapore were approximately five to six times larger than prices in Horizon Hills on a square foot basis. The price disparity is a key advantage to market Iskandar property to Singaporeans and foreign expatriates living in Singapore, according to MDIF research.
Sunway Bhd has acquired numerous plots of land in Iskandar as part of a joint-venture, including Medini Living, Pendas North, Western Pendas South and Eastern Pendas South. The Iskandar land measures 1,770 acres in total with combined gross development value of RM30 billion (US$9.69 billion).
The land in Iskandar contributes to approximately 57 percent of Sunway?s GDV value, and is therefore crucial to the company?s long term success, reported the Borneo Post.
Numerous rounds of cooling measures in Singapore are also expected to attract potential buyers to Iskandar, according to the Borneo Post.
The completion of major infrastructure developments including the New Coastal Highway, the Eastern Dispersal Link Expressway and the Southern Link in Iskandar will also increase demand for properties in the location.
?The project has high development potential due to the size of the township development, accessibility and transport network circulation?. Hence, we believe margin of the development will be higher than [the] existing township development of Sunway,? said MIDF research.
Phase one of the Iskandar Land is scheduled to launch in Q4 2013 at the earliest.
Sunway have revealed that they aim to launch RM1.5 billion (US$484 million) worth of properties in the financial year 2013. Major launches include a condominium tower worth RM200 million (US$64.6 million).
You may also like:
Source: http://www.property-report.com/the-future-is-bright-for-sunway-27942
travis barker get back on board rob lowe peyton manning what is sopa marianne gingrich ibooks author gabrielle union
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.