Daiwa-Sunway JV to Build GDV RM210M Pre-fab Homes

Nusajaya, Johor, 15 June 2015 ~ Daiwa House Malaysia Sdn. Bhd. (“Daiwa”), a subsidiary of Japan’s largest pre-fabricated homebuilder and Fortune Global 500 company,Daiwa House Industry Co. Ltd., has entered into a Joint Venture (“JV”) with Sunway Iskandar Sdn. Bhd. (“SISB”), a subsidiary of Sunway Berhad, to develop 100 units of high quality pre-fabricated landed homes in Sunway Iskandar with a gross development value (GDV) of RM210 million.
The properties to be developed under the JV are targeted for sale to buyers in Malaysia, Singapore and Japan, aligned with the plan to attract Japanese homebuyers to the Iskandar community. The Japanese market is one of the top five investors in Iskandar and there has been a steady increase in Japanese interest in Iskandar due to its conducive environment and proximity to Singapore.
Under the agreement, SISB has transferred the lease of a 13 acre land located in Sunway Iskandar to the JV Company, to be 70% owned by Daiwa and 30% by SISB, a financial consideration of RM63 million for the development of 100 units of landed homes. Sarena Cheah, Managing Director, Sunway Property, today, signed the agreement with Daisuke Usugi, Managing Director, Daiwa House Malaysia.
The parcel of land, marked for development, is located strategically within Sunway Iskandar’s Lakeview Precinct which is adjacent to the pristine 20 acre Emerald Lake. Dubbed Nature’s Capital City, Sunway Iskandar is located within the heart of Iskandar Malaysia, approximately 5 minutes from Singapore via the Second Link Expressway and 25 minutes from Senai International Airport and is surrounded by Iskandar Malaysia’s catalytic developments including LEGOLAND Malaysia, Pinewood Iskandar Malaysia Studios, EduCity, Kota Iskandar and the International Financial District.
The landed homes, to be constructed using prefabricated technologies, will comprise bungalows, semi-detached and cluster homes located in a gated and guarded community with its own facilities such as clubhouse, swimming pool, gymnasium, multi-purpose hall, child care center and prayer facilities. The project is expected to be launched in early 2016, with handover to customers estimated for mid-2017.
Prefabricated housing is the manufacturing of houses or housing components offsite in a factory environment before final installation onsite. Prefabricated housing technologies enables for faster construction and delivery to customers, higher consistent product quality and enhanced live-ability.
“This strategic collaboration is in line with Sunway’s vision to integrate world-class liveability in Sunway Iskandar. With Daiwa House’s world-recognised expertise in prefabricated technologies, we hope to expand prefabricated housing technologies in Malaysia and to deliver high quality products to our homebuyers in Sunway Iskandar,” said Sarena Cheah.
“The homes will incorporate cutting-edge design features, tapping into Daiwa’s experience in Japan and R&D strengths, such as child friendly door designs, home energy management systems, game-changing lifestyles for the communities of Sunway Iskandar,” said Daisuke Usugi, Managing Director, Daiwa House Malaysia Sdn Bhd.