UEM Sunrise expects RM800m GDV for phase 3 of Johor project

Under the deal, UEM Sunrise via its unit Sunrise Bhd would invest RM215mil to acquire a 50% stake in WCT

KUALA LUMPUR: UEM Sunrise Bhd expects a gross development value (GDV) of RM800 million for the third phase of its newly-launched Southern Industrial and Logistics Clusters (SILC) in Iskandar Puteri, Johor.

Managing director and chief executive officer Anwar Syahrin Abdul Ajib said the entire project, including phases one and two which were completed and sold out, would see the GDV at RM1.6 billion.

"We will invest between RM250 million and RM300 million for infrastructure in the next five years. I expect the third phase to be completed in the fourth quarter of this year," he told a press conference after launching the SILC's phase three Kuala Lumpur on Tuesday.

SILC is a fully integrated 526.09ha sustainable industrial park targeted at light to medium industries.

As of December 2016, RM350 million had been invested in the infrastructure for the first two phases.

Earlier, UEM Sunrise inked an agreement with Hong Kong-based Crown Worldwide Group for 1.67ha of land in the SILC phase three for RM16 million.

Crown Worldwide is an information management, world mobility, relocation and fine art logistics provider.

Managing director Leon Hulme said the land would be developed into a facility with the capability to store over 1.5 million boxes of corporate documents for its Crown Records Management Band, as well as being home to its Crown Relations and Crown World Mobility brands.

He added that about RM37 million would be set aside for the purpose.

Anwar said that currently 53% of investments in the SILC were from local investors, and the rest from international investors, namely the United Kingdom, Taiwan, Singapore, South Korea, the United States, Denmark, India, China, Australia, the Netherlands and Germany. - Bernama