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Sunway offers own loans up to 88% and deferred payment plan for homebuyers

Sunway Geo Residences 3 is the third sequel of the Sunway Geo Series built in the township of Sunway South Quay within Sunway Integrated Resort City. Sunway Geo Residences 3 is the third sequel of the Sunway Geo Series built in the township of Sunway South Quay within Sunway Integrated Resort City.

Property heavyweight Sunway Bhd has introduced special offerings under its Sunway Property Certainty Campaign today, which includes up to 88% financial assistance to home buyers under a unique ownership campaign as the developer seeks to boost sales.

The campaign – which will offer (1) guaranteed loan, (2) deferred payment plan and a (3) voluntary exit plan – covers all Sunway projects in Malaysia from today until 31 September.

"We are still seeing demand for good and well-located properties in the market. People are looking to upgrade, invest and own a home in a well-planned environment,” said Sunway Malaysia and Singapore property development division managing director Sarena Cheah.

“However, with the uncertain times now, the timing of people's commitment in properties is something of great concern," she added.

Stricter lending imposed by banks meant some buyers were unable to obtain the financing needed to complete their home purchases.

According to Sunway Integrated Properties Sdn Bhd marketing and sales general manager Gerard Yuen, the guaranteed loan scheme is a 12:88 plan, with Sunway providing financing of up to 88% of the property price from its internal funds.

Under the newly-introduced scheme, buyers are given the options to apply loan with commercial banks or with Sunway.

The guaranteed loan by Sunway is offered on a first-come, first-served basis for Sunway’s launched and on-sale projects. It will have a fixed interest rate based on a commercial basis and subject to certain criteria.

He said to qualify for the loans, applicants must be above 18 years old and not bankrupt, among other things. The loans are available to both Malaysians and foreigners.

"For homebuyers who meet the basic criteria, we are happy to assist them by providing a certainty package, enabling them to own their dream home with a greater sense of comfort," said Yuen.

"We are not trying to play the bank’s role, we just want to assist those who want to buy a Sunway unit but are having temporary financial difficulties," he stressed.

Meanwhile, the deferred payment scheme offers zero payment for a period of 12 or 24 months following an inital downpayment of 3% or 6%.

The voluntary exit plan allows buyers to withdraw or terminate from the sale and purchase agreement owing to unforeseen circumstances such as loss of employment.

At the press conference, the Group also unveiled the third and final phase of the Sunway Geo Series in Sunway South Quay, where it has received an average of more than 95% take-up rates for its previous launches.

Sunway is alo gearing up for more central region launches during the early half of the year with two brand new developments in Mont Kiara and Bangi.

It is part of the Group’s plan to launch properties with a gross development value (GDV) of RM1.6 billion in the Klang Valley (central region), Iskandar Malaysia (southern region), Ipoh and Penang (northern region). The developer also has a presence in Singapore and China.

Currently, Sunway has landbank of 3,304 acres, with a total GDV of RM47.7 billion and a development period up to 15 years.

For this year, she said 70% of the launches will be focused in Klang Valley, totalling RM1 billion.

It will launch Sunway Geo Residences 3 – which has a gross development value (GDV) of RM535 million – next month, and plans to launch Sunway Mont Residences (RM200 million GDV) in Mont Kiara, a block of office suites at Sunway Velocity (RM200 million GDV) and 259 units of serviced apartments in Sunway Gandaria (RM200 million GDV) in Bangi.

For the southern region, Sunway plans to launch RM400 million of mixed development in Iskandar Malaysia, Johor while in Ipoh, the group aims to launch Lost World Residences, comprising 262 units of serviced apartments with a total GDV of RM100 million.

In Penang, the developer would be launching 48 units of two-storey semi-detached homes in Sunway Cassia, Batu Maung Phase 3 worth RM100 million.

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Sitting on a 6.64-acre freehold land within Sunway South Quay, the Sunway Geo Residences 3 is a 44-storey condominium project housing 420 units. It has built-ups ranging from 988 sq ft to 1,772 sq ft. It is slated to be completed by October 2019.

Indicative selling price start from RM850,000.

Sunway South Quay is a 178-acre international neighbourhood within the flagship Sunway Integrated Resort City, comprising a variety of residential and commercial developments.

Facilities of Sunway Geo Residences 3 include a seamless infinity pool, kid's pool, rock jacuzzis, one-acre park and an award-winning landscape.

The project will be directly linked to Sunway Geo Retail, with 200 outlets, and Sunway Geo Offices, with 600 offices, as well as to the bus rapid transit (BRT) SunMed station, and is just three stops away from the new Kelana Jaya LRT extension and Sunway-Setia Jaya KTM Station.

It also has amenities nearby, such as an international school, two universities, a large regional shopping mall and a medical centre.

As at today, the first two phases of Sunway Geo Residences have already achieved about 95% sales.

Sunway Geo development recently won Excellence in 'The Just-Walk Award' under the best integrated development category at the inaugural StarProperty.my Awards 2016. The greater Sunway Resort City also won Excellence in 'The Five Elements Award' under the best township development category.

Meanwhile, Sunway Mont Residences in the upclass surburb of Mont Kiara offers 288 units of luxury condominiums suitable for working professionals and upgraders.

The condominium will be housed in a single 38-storey block and a 7-storey carpark podium with one level of sub-basement.

The Sunway Gandaria Residences in the heart of Pusat Bandar Baru Bangi offers 259 units of serviced apartments housed in a 38-storey tower and integrated with Sunway Gandaria Retail, consisting of 34 units of retail shops below. It will become the tallest landmark in Bangi. 

It was reported that Sunway Gandaria Retail has been fully taken up since its preview in mid-December last year.

The residences which will offer sizes of 949 sq ft to 1,405 sq ft with an indicative selling price starting from RM500,000.

It will have a number of facilities including a 50m lap pool, a gym overlooking the pool, and round-the-clock three-tier security. There is also a range of amenities nearby such as schools and universities, financial institutions, shopping malls, and overlooking the Cempaka Lake Gardens and the Bangi Golf Course.

The development can be accessed via eight major highways and it is also expected to benefit from its proximity to the MRT Line 1 Kajang station, which is scheduled to be operational by 2017, the proposed MRT Line 2 Putrajaya Sentral station and the future Putrajaya-Kajang BRT line.

In 2017, Sunway plans to launch the Phase 1 of its recently acquired 17-acre land in Kelana Jaya. Preliminary information shows that Phase 1 will consist of two blocks of 45- and 46-storey serviced apartments consisting of 442 units and 452 units respectively.

The Group has plans for an integrated mixed development in the yet-to-be-named project comprising seven residential blocks and a commercial podium with a GDV of RM1.8 billion.

 

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