KUALA LUMPUR: UEM Sunrise Bhd will be acquiring approximately 3.7 hectares of freehold land from the Employees Provident Fund adjacent to the Damansara-Puchong Expressway in Kelana Jaya for RM155mil.
The developer, in a statement, said it plans to develop a mixed-use development featuring residential and retail components.
The company plans to develop a mixed-use development featuring residential and retail components, to be categorised in the NEST Series under UEM Sunrise’s Happy+ product series, a product branding initiative launched in February 2023 offering homebuyers the most ideal homes that cater to their varying lifestyles and life-stage needs.
The NEST Series focuses on multigenerational-oriented homes designed with the customers’ extended families in mind.
“The development is estimated at a total gross development value (GDV) of RM1.1bil and is targeted to launch in 2025,” UEM Sunrise said.
Chief executive officer Sufian Abdullah said: “We have exciting plans in the works for this upcoming development which will emphasise multi-generational living opportunities. The scheme will be designed to be future-proof, catering for the evolution of the family, offering nurturing and secure environments, complemented by well-designed functional gardens and parks with recreational facilities.”
“Strategically located in the mature neighbourhood of SS6 Kelana Jaya, the
residents of this new development will have easy access to urban amenities and great connectivity to vibrant commercial centres, including SS6’s retail hubs and Paradigm Mall, located just opposite it,” he added.
With this latest purchase, UEM Sunrise's total landbank in the Greater Kuala Lumpur area stands at approximately 175 hectares amounting to an estimated total GDV of RM29.5bil, providing the company with resilient and sustained growth in the long term.