Sunyoung Construction's Xinyi Project Nears Completion, Boosting Year-End Performance

Sunyoung Construction, a long-standing developer, anticipates a significant boost to its performance as its major Xinyi District project, 'Sunyoung International ONE 360,' is slated for handover by year-end. The project, which received its occupancy permit in June, has a total sales value of approximately NT$6.1 billion, with over 50% sold since its pre-sale launch in 2019. The company expects to begin delivering units to buyers in December, recognizing revenue from the already sold portion.

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The real estate market in the second half of the year still faces three major variables: policy adjustments, the international environment, and construction challenges.

Looking ahead to next year, Sunyoung Construction's revenue streams will include the remaining sales of 'Sunyoung International ONE 360' and the Chongqing North Road project in Taipei City. This latter project, with a total sales value of NT$3.2 billion, is scheduled for completion in the latter half of next year and will be sold as a completed property.

In the past year, Sunyang launched four pre-sale projects in the Taipei metropolitan area. "Sunyoung Fulin" and "Sunyoung Liju" in Shilin have sales rates of 75% and 60% respectively, with total sales values of NT$2.6 billion and NT$5.2 billion. "Sunyoung Huicui" and "Sunyoung Guoxu" in New Taipei City, launched in the first half of this year, have total sales values of NT$3.9 billion and NT$2.9 billion, with sales rates around 80%. General Manager Wei Dailin expressed optimism that "Sunyoung Guoxu" will conclude sales in the fourth quarter.

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Sunyoung International ONE 360 has already obtained its occupancy permit in June. The total sales value for Sunyoung's share of this project is approximately NT$6.1 billion. After its pre-sale launch in 2019, over 50% was sold. We will re-launch sales as a completed property at the end of this year.

Despite a sluggish real estate market in the first half of the year, Sunyoung's projects have maintained high sales rates. Wei attributed this success to the projects' prime locations, well-defined product planning, and strong brand reputation, particularly noting Sunyoung's established presence in Banqiao. This strategic positioning has led to sales exceeding expectations.

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The sales rates of our projects remain high due to individual project location, product planning, and brand effect. Because Sunyoung has some reputation in Banqiao, coupled with good product positioning, sales have exceeded expectations.