Sunway Property continues to prove its mettle in these turbulent times, pulling off a string of successes despite the harsh economic climate. The latest feather in its cap is Sunway Mont Residences, which exceeded expectations by recoding an 80 per cent take-up rate at its official launch last weekend.
Located in the high nett-worth suburb of Mont’ Kiara, the 38-storey condominium project is situated on a 2.88-acre site just off Jalan Kiara 5. It offers 288 units in built-up areas that range between 1,122sq ft to 1,906sq ft which are priced from RM880,000 onwards.
According to Sunway Property, Sunway Mont Residences is targeted at growing families and offers conveniences such as good connectivity, nearby education facilities, retail and leisure outlets, as well as healthcare amenities.
The project is located close to the Gardens International School, Global Doctors Centre and Global Doctors Hospital, Bukit Kiara Equestrian Club, KL Golf and Country Club, Verve Shops, One Mont’Kiara, Plaza Mont’Kiara, Solaris Mont’Kiara and Publika.
Elated at the public response to the project, Sunway Bhd’s executive director (central region) of property development division, Ang Kee Ping, said the spacious dual-key homes concept also proved to be a big hit among registrants.
“We are encouraged by the response during the successful launch… this follows the resounding interest we received during our sales gallery opening last week,” said Ang.
Aside from convenient facilities that cater to both local and expat families seeking a higher quality of life, residents will also have easy access to important urban centres such as Petaling Jaya and KLCC via the Sprint Highway and the Penchala Link.
Meanwhile, on the corporate front, the recent numbers released by Sunway Bhd reveal that it registered slightly weaker earnings than anticipated for the first quarter of the year, falling 20 per cent year-on-year to RM105 million. This amounts to 17 per cent of the full year forecast.
According to Hong Leong Investment Bank Research, the first quarter has traditionally been weak for the group, usually fluctuating between 19 per cent and 22 per cent of its full-year earnings. It said the weaker earnings is due to weaker contributions from all segments.
Revenue dropped 44 per cent quarter-on-quarter due to lower progressive billings from ongoing local projects, while property sales were RM198 million compared to the RM348 million garnered in the fourth quarter of last year.
However, stronger sales are expected in the remainder of the year, on the back of RM1.6 billion worth of new project launches.