Its managing director/chief executive officer Anwar Syahrin Abdul Ajib (pic) said the Tapah land divestment is akin to what UEM Sunrise has been doing in Iskandar Puteri and company’s plan to use the proceeds towards the funding of new land acquisitions in line with its strategy to rebalance land bank portfolio.
KUALA LUMPUR: UEM Sunrise Bhd
is rebalancing its land bank portfolio by entering into a sale and purchase agreement with Lagenda Properties Bhd for the divestment of part of the company’s non-strategic land in Tapah, Perak measuring 252.15ha for RM29.9mil.
The company said in a statement yesterday that the divestment is expected to be completed in August 2021.
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