MAK is a renowned developer in Hyderabad with flagship developments including the Banyan Tree Retreat, a secure, gated and guarded mixed development located close to the Joint Venture project.

SunCity would initially invest RM4 million to secure the project and subsequently increase it to RM17 million for a 60% stake in this 14-acre project. This project will consist of 1,500 units of condominiums that would be completed in several phases over the next three to five years.

The average size of the apartments is about 1,500 sq ft with an average selling price of RM208 per sq ft.

Strategically located on the growing southern corridor of Hyderabad, India and within proximity of the Rajiv Gandhi International Airport and Hardware Park; SunCity is confident that it could tap into the booming housing market demand generated from senior professionals working in the airport and Hardware Park.

The first phase is targeted for launching in early 2009.

2007 saw sustained end-user demand in all segments of the industry, fueled by buoyancy in the economy, favorable demographic, increased urbanization and rising income levels. **

The Indian real estate industry has grown at an unprecedented rate of 30% in recent years and it is expected to grow at over 21% in the next four years. According to Deutsche Bank, the industry is expected to grow from USD 48 billion in 2007 to USD 140 billion by 2012 (compounded average growth rate (CAGR) of 21%). CAGR is defined as the year-on-year growth rate of an investment over a specified period of time.

The high demand growth of the property market in India is supported by India’s population of 1.1 billion. Furthermore, India's population is expected to grow by 1.2% CAGR over the next 20 years to become the world’s most populous nation by year 2030 with a population of 1.5 billion.

With India’s growing economy and population, SunCity is positive that its products of premium quality and engineering innovation will receive good response in line with the bullish growth outlook of India's property market.

SunCity is also on target to launch its first project- Sunway Opus Grand Residency, an exclusive 35-acre development located in the suburb of Ameenpur, about 15 kilometres northwest of Hyderabad, in April 2008.

This development with an estimated gross development value of RM1.5 billion, is located close to HITEC City of Hyderabad, India. It targets Senior IT professionals of HITEC City who seek premium housing with quality products and refreshing ideas.

Sunway Opus Grand Residency seeks to be different by introducing resort style living design concepts and international quality standard with a well-planned premium product.

Signing and launching of the two projects in India is aligned with SunCity’s strategic regional expansion. In addition to its presence in Australia, Cambodia and India, SunCity is hoping to expand its business to other countries including China and Vietnam.

**Sources: India Property : Shifting sands create entry opportunities, Deutsche Bank, 3 September 2007, via Ernst & Young Budget RE Impact, Asian Development Bank Outlook 2007, 27 March 2007 and UN World Population Prospects Report 2006, 28 June 2007

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