♦ RM1.76bn and RM2.6bn worth of new launches for 2010-2011. Following
Suncity’s targeted new launches of RM1.76bn for 2010, management plans to
put RM2.6bn GDV worth new projects into the market next year. These include:
(i) South Quay condo and commercial component; (ii) Melawati garden villas;
(iii) Sunway Velocity service apartment; and (iv) Overseas projects – Jiangyin
and Tianjin SSTEC project. New sales have been strong since late last year, and
it continued to replenish unbilled sales, which stood at RM743m as at Jun 2010,
compared to RM630m in March 2010. Considering the aggressive launches of
new properties in the pipeline, we believe earnings growth for the property
development division will be able to sustain over the next five years.
Sunway City Berhad : Aggressive Launches of New Properties - 01/09/2010
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