UEM Sunrise to launch RM3.7 bil worth of projects this year

KUALA LUMPUR (April 30): UEM Sunrise is looking to launch RM3.7 billion worth of projects this year, managing director and CEO Anwar Syahrin Abdul Ajib said today at a media briefing.

“This is all subject to us getting the approvals from the authorities. If everything [goes as planned], we can launch up to RM3.7 billion worth of properties. We have to access the market… and the likelihood of success,” he qualified.

Recognising the soft marketing and highly competitive landscape, Anwar highlighted a four-pronged approach to counter the situation: providing quality products that consumers will want, landbanking, developing the 4,500 acre Gerbang Nusajaya and expanding its property-related businesses such as property management, security and hospitality.

On plans for Gerbang Nusajaya, he revealed that UEM Sunrise is lobbying the Land Public Transport Commission (SPAD) for the high-speed rail to pass through the development. Anwar hopes to get an indication by year-end whether this will happen.

As for this year’s sales targets, he disclosed that it stands at RM2 billion, but added he will push his team to reach last year’s sales figure of RM2.4 billion.

One of the projects to be launched at end-May is Phase 1 of Estuari in Puteri Harbour, Nusajaya, Johor. Phase 1 has a gross development value of RM533 million and will offer 346 units of superlink houses with built-up from 2,900 sq ft on a 48 acre site.

As for international projects, Anwar shared that in Canada, their project called Alderbridge in Vancouver is in the planning stages.

A project in Durban Point, South Africa, is also in the planning stages and an application has been made to increase its density.

Lastly, there is the A$200 million (RM566.74  million) high-rise project in Melbourne, Australia, called the Conservatory, which is close to Carlton Gardens and not far from the CBD. It will offer 473 units with built-ups from 500 to 1,500 sq ft.