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Moving forward, RHB Research said the RM8 billion join venture (JV) Free Commercial Zone logistics hub development with Equalbase, upcoming data centres and hospital nearby, as well as the Cheah Fah Chinese primary school and Sunway International School are expected to help create a positive spillover to demand for properties in Sunway Iskandar in the future.
"We maintain Buy on the stock with a new target price of RM5.00 from RM4.00 previously.
"As these factors and the group's corporate exercise progressively show more visibility, the re-rating for Sunway is expected to continue," it added.