30+ 95 years lease i think. Have been in talks about converting to freehold for a few years but no updates from sunway

there is totally not possible to convert to freehold, due to the land is under Medini which whole piece of land is leasehold.

if it convert, mean the whole medini land need to be convert, which is kind of impossible, except fed gov want to convert it.

Wow if got then happy for the leasehold buyers! Too bad i went with UEM nusajay instead 🥺

i go asked already, is not fall under medini, just at the border of the medini.
that why they can offer freehold.

Sunway to get significant boost from Medini land conversion offer, HLIB says

KUALA LUMPUR (Jan 20): A proposal to convert private lease scheme land to freehold status in Medini Iskandar in Johor, will significantly boost Sunway Bhd’s (KL:SUNWAY) land value and gross development value, according to an analyst.

The company’s Maple Residence is selling at 25% premium to its Aviana project under a private lease scheme, Hong Leong Investment Bank (HLIB) said in a note. That can be attributed to the value that land status brings to property pricing and market perception, the research house said.

“Sunway benefits significantly from this development,” the house said.

The Edge Malaysia weekly’s Jan 20-26, 2025 issue reported that Iskandar Investment Bhd, the landowner of the 2,230-acre Medini Iskandar, is issuing offer letters to property buyers in Medini, providing the option to convert their private lease scheme properties to freehold for a premium.

Under the private lease scheme — originally introduced to restrict foreigners from owning properties in perpetuity — the landowner leases land to a developer for a fixed tenure. The home buyer is the second lessee under the scheme.

The premium for conversion is RM8 per gross floor area for undeveloped land, and RM10,000 per unit for completed properties.

Sunway holds leases for 691 acres in Medini Iskandar through a joint venture with Khazanah Nasional Bhd, with an effective remaining landbank of 130 acres and a gross development value of RM6.2 billion.

The land forms part of Sunway City Iskandar Puteri, spanning 1,770 acres within the recently formalised Johor-Singapore Special Economic Zone, which will increase its appeal significantly, HLIB said.

“The timing is ideal,” the house added, and kept the stock on a “buy” call.

https://theedgemalaysia.com/node/741609