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Stockwatch- Sunway City (Malaysia) featured in article on The Edge Singapore 20 Nov 2006

4th Stockwatch on Malaysian property companies- Sunway City, featured in The Edge Singapore 20 Nov 2006.

Key highlights of the article:

1. Euromoney, the leading international journal of the world's capital and money markets, ranked Sunway third among 82 developers in Malaysia that competed for the Euromoney Real Estate Awards 2006.

2. Sunway City is an established, listed property developer noted for the transformation of 800 acres of derelict mining land into its flagship project, the multi-billion dollar Bandar Sunway township in the Klang Valley.

3. Its other admired development is Kiara Hills in Mont'Kiara, often described as "the Beverly Hills of Kuala Lumpur," which offers 88 luxurious bungalows and 34 courtyard villas.

4. An upcoming launch by Sunway City Bhd and Amisia Sdn Bhd is Casa Kiara II in the prime Mont'Kiara area. It offers 206 units housed in a 37-storey tower.

5. Also to be launched in the Mont'Kiara area are Sunway's Kiara Hills phase 3 and Sri Hartamas, which are both high-end condo projects. Sunway also has other condo projects in the Klang Valley, including Sunway Damansara and Sunway SPK.

6. Although it is primarily a residential developer, it has the expertise to develop integrated developments such as Bandar Sunway township in Petaling Jaya, which includes the Sunway Lagoon Resort incorporating the Sunway Pyramid mall, Sunway Lagoon Hotel and theme park; the Sunway Medical Centre; and Sunway College & Monash University, among others.

7. Sunway has a proposed mixed-use development called Sunway South Quay, which is to be developed on 123 acres in Bandar Sunway. Its JV partners in Sunway South Quay are Kuwait Finance House and more recently, the Employees Providend Fund, which announced it is pumping RM69.6mil into the project.

8. Sunway has also spread its wings to develop a RM1 billion, 1,400-acre integrated township in the city of Ipoh, Perak that is slated for completion by 2010.

9. In November last year, it also launched a high-end residential project in Penang called Sunway Bukit Gambier, which is to be built on a 9.4ha site and will have 238 terraced houses, 34 semi-detached homes, and three bungalows. The RM230 mil mixed-development project, which includes the Sunway Carnival Shopping Centre, is next to Universiti Sains Malaysia's Minden campus.

10. The developer also recently announced plans to construct two-storey linkhouses on its existing landbanks in Banyan Lepas and Sungai Batu that will be targeted at the middle-income group.

11. Sunway started actively looking abroad for development opportunities in hot markets like India, Vietnam and China last year. Its maiden residential development joint-venture project there is Toul Kork City in Phnom Penh, which it is undertaking with a local landowner.

The US$30mil project is on 28.9 acres, and the plan is to build 398 detached medium- to high-end units there. It will be launched in phases over three years. It already owns the 140-room Sunway Phnom Penh Hotel in Cambodia.

12. In July, the property player also signed a memorandum of understanding to manage a new high-end mall in Shenzhen that's expected to be completed next year.

13. Sunway is also planning a RM1.5 billion to RM2 billion real estate investment trust (REIT) to be launched by 2008. The diversified REIT portfolio could include the entire Sunway Pyramid Mall and its annex, totally 1.6 million sq ft of net lettable space, as well as the sprawliing 12-acre Monash University campus it is building 25km outside Kuala Lumpur.

posted by gsg @ 11:46 AM