Sunway Group is taking a more active role in Singapore’s property market after acquiring MCL Land from Hongkong Land for S$738.7 million, marking its largest overseas investment.
Executive deputy chair Sarena Cheah said Sunway had previously worked through partnerships with developers like Hoi Hup and Sing Holdings. With this acquisition, Sunway will now lead more projects directly, though joint ventures will remain common due to project scale.
Recent moves include top bids for sites at Chuan Grove and Tampines Street 94, pushing total Singapore investments beyond S$1.2 billion since mid-2025. The group will rebrand its local operations as Sunway MCL, managing ongoing developments such as Elta, Nava Grove, Tembusu Grand, and The Continuum—totaling nearly 5,000 residential units worth about S$4.5 billion.
Cheah noted that while housing remains the focus, Sunway may explore senior living projects in the future. She added that Singapore’s property market remains strong, with new home sales in the first nine months of 2025 already surpassing the total for 2024.
