UEM Sunrise chief executive officer Sufian Abdullah
PETALING JAYA: UEM Sunrise Bhd
will be acquiring 3.7ha of freehold land from the Employees Provident Fund (EPF) near the Damansara-Puchong Expressway in Kelana Jaya, Selangor for RM155mil.
In a filing with Bursa Malaysia, the company said it has plans to develop a mixed-use development featuring residential and retail components.
The development will be categorised in the NEST Series under UEM Sunrise’s Happy+ product series – a product branding launched in February 2023 offering homebuyers the ideal homes that cater to their lifestyles.
The NEST Series focuses on multigenerational-oriented homes designed for extended families.
“The development is estimated at a total gross development value (GDV) of RM1.1bil and is targeted for launch in 2025,” it said.
With the latest purchase, UEM Sunrise’s total land bank in the Greater Kuala Lumpur area stands at 175ha amounting to an estimated total GDV of RM29.5bil, providing the company with resilient and sustained growth in the long term.
UEM Sunrise chief executive officer Sufian Abdullah said: “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 the Paradigm Mall, located just opposite it,” he said in the statement.
The land is also situated opposite Taman Bandaran Kelana Jaya – Petaling Jaya’s largest park.
“Residents can take advantage of the park’s amenities and enjoy the jogging tracks circling the lakes.
“Several units of this future residence may also have unobstructed views of the lake-filled park,” he said.
The acquisition is a testament to UEM Sunrise’s ongoing efforts to rebalance its land banking portfolio and increase the company’s presence in the central region, according to Sufian.
