SunCity to launch RM1.5b condo project in India - Indian Real Estate Forum

arun · 23-08-07

Property developer Sunway City Bhd (SunCity) is ready to launch its Rs 1.5 billion high-end condominium project in Andra Pradesh, India, by the middle of next year.

The Sunway Opus Grand Residency project is a 3,400-unit condominium development located close to Hitec City IT Park, considered the second Silicon Valley of India.

This will enable SunCity to tap into senior information technology (IT) professionals looking for premium quality homes. Total size of the project is 14 hectares (35 acres), adding that the project is in line with its strategic direction of regional expansion and to export its real estate expertise.

The company is confident that its brand positioning, with emphasis on quality and attention to design and detailing, will be able to command a premium price of RM280 per gross square foot when the project is launched in mid-2008.

The large-scale project also enables better price appreciation for each subsequent phase of launch to RM350 per gross square foot or more. Sunway expects the condominium development to be completed within five years. With the bullish outlook in India’s property market, SunCity’s management targets to expand to other Indian cities like Pune and Bangalore.

SunCity has an ongoing project in Phnom Penh, Cambodia, and is also keen to expand to other emerging markets like Vietnam and China.

News Source: btimes.com

23-08-07	#1
arun New Member Join Date: Oct 2006 Posts: 43 Thanks: 0 Thanked 0 Times in 0 Posts	SunCity to launch Rs 1.5b condo project in India Property developer Sunway City Bhd (SunCity) is ready to launch its Rs 1.5 billion high-end condominium project in Andra Pradesh, India, by the middle of next year. The Sunway Opus Grand Residency project is a 3,400-unit condominium development located close to Hitec City IT Park, considered the second Silicon Valley of India. This will enable SunCity to tap into senior information technology (IT) professionals looking for premium quality homes. Total size of the project is 14 hectares (35 acres), adding that the project is in line with its strategic direction of regional expansion and to export its real estate expertise. The company is confident that its brand positioning, with emphasis on quality and attention to design and detailing, will be able to command a premium price of RM280 per gross square foot when the project is launched in mid-2008. The large-scale project also enables better price appreciation for each subsequent phase of launch to RM350 per gross square foot or more. Sunway expects the condominium development to be completed within five years. With the bullish outlook in India’s property market, SunCity’s management targets to expand to other Indian cities like Pune and Bangalore. SunCity has an ongoing project in Phnom Penh, Cambodia, and is also keen to expand to other emerging markets like Vietnam and China. News Source: btimes.com Last edited by arun; 23-08-07 at 04:45 PM.

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
SunCity enters India	dennis	General Real Estate Discussion	0	16-07-07 10:07 AM
CapitaLand to launch new funds to India	dewakar	General Real Estate Discussion	0	26-06-07 09:37 AM
Pallonji mass housing project set for launch	mishthi	General Real Estate Discussion	0	25-04-07 10:45 AM
Pallonji to launch a Mass Housing Project in Kolkata	Rex	Kolkata	0	17-04-07 04:53 PM
US Company to Launch Budget Hotels in India	Pinnacle	General Real Estate Discussion	2	23-01-07 03:21 PM