KUALA LUMPUR (Feb 27): UEM Sunrise Bhd is on a mission to develop “the next Mont'Kiara” in the Klang Valley, offering more affordable properties than the high-end enclave in Kuala Lumpur, said its managing director and CEO Anwar Syahrin Abdul Ajib.

The initial launch at this new Mont’Kiara will be a mixed development worth RM205 million this year, in the central region, he told reporters at a media briefing on the company’s corporate updates today.

The mixed development is expected to have seven components similar to the components at the 18.8-acre Solaris Parq development in Dutamas, Kuala Lumpur, which consists of two towers of residential suites, serviced apartments, retail shops and office suites, he added.

“I can’t disclose in detail, but conceptually, that is what we want to do. We want to be able to give people the quality of the lifestyle in Mont’Kiara but at a more affordable price range,” Anwar said, adding that the affordable price in Kuala Lumpur would be around the range from RM500,000 to RM1 million.

“We need to be very careful with the products that come into the market. Hence, we want to use the experience that we have in Mont’Kiara and how we dealt with the developments,” he added.

UEM Sunrise is also scouting around for sizeable lands that will enable the company to build something like Mont’Kiara.

“I think there are opportunities in Kuala Lumpur. Hopefully we will be able to have some announcements in terms of land banking in the near future,” he said.

Currently, the developer has a landbank of about 500 acres in the Klang Valley, of which 20 acres are located in Kuala Lumpur. In the southern region, it owns some 10,000 acres of lands.

In line with its strategy of “rebalancing” its land portfolio, Anwar said the company will continue to seek opportunities to dispose of non-strategic lands while looking to expand its landbank in the central region.

Besides “the next Mont’Kiara” project, UEM Sunrise also aims to roll out other new projects worth RM1 billion in GDV in 2018, mainly comprising mid-market products.

First up would be an affordable housing project called Kondominium Kiara Kasih in Mont’Kiara and two new phases in Serimbun, Iskandar Puteri, Johor.

Kondominium Kiara Kasih is the first RUMAWIP project by UEM Sunrise in Mont’Kiara, which is expected to be unveiled on March 20.

With a GDV of RM217.5 million, the project will offer apartment units with built-ups from 850 sq ft and priced from RM300,000.

Meanwhile, also to be launched in the near term are phases 1A and 1B of Serimbun, which consist of 2-storey terraced homes with a combined GDV of RM139.3 million.

The subsequent launch will be 2-storey terraced homes in phase 3 of Iris Residences in Gerbang Nusajaya, which is expected to have a GDV of RM69.3 million. The launch will be in 2Q18. This will be followed by similar homes in phase 4 worth RM66 million, phase 1D1 of Serene Heights in Bangi, Selangor (RM53 million) and a high-rise development called MK27 in KL (RM249.9 million) in 3Q18.

Anwar noted that the company’s sales target remains at RM1.2 billion for 2018. In 2017, the developer has launched projects worth RM2 billion, exceeding the initial target of RM1.7 billion.

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