UEM Sunrise sees property upswing

Meeting the press: (from left) UEM Sunrise CEO Anwar Syahrin Abdul Ajib, UEM Group CEO Datuk Izzaddin Idris, CFO Taufik Albar and Faber Group CEO Azmir Merican at a media conference in KL. in Wednesday. - Bernama

KUALA LUMPUR: UEM Sunrise Bhd, one of the biggest property developers in the country, is expecting an upswing in the property market by end-2015 or 2016, said newly appointed managing director (MD)/chief executive officer (CEO) Anwar Syahrin Abdul Ajib.

Property sales, especially in the affordable segment, have slowed down since the beginning of the year, as measures to curb speculative purchases dampened sentiment in the property market.