UEM Sunrise buys 19.24-acre land for RM700m GDV project

KUALA LUMPUR (Dec 12): UEM Sunrise Bhd (UEMS) is acquiring a 19.24-acre land in Taman Equine, Seri Kembangan, for residential units with an estimated gross development value in excess of RM700 million.

In a statement today, UEMS said its unit Sunrise Alliance Sdn Bhd had inked a sale and purchase agreement with Kemaris Residences Sdn Bhd to buy the land for RM109.5 million.

UEMS said the development order has been approved for the project comprising 924 residential units, which is targeted at upper-mid market purchasers.

Taman Equine is located about 18km to the south of Kuala Lumpur city centre, and is easily accessible via Maju Expressway, Lebuhraya Damansara Puchong and South Klang Valley Expressway, said the company, adding that the Equine Park MRT2 Station, which is currently under construction, is located 1.3km to the south of the land.

UEMS managing director and CEO Anwar Syahrin Abdul Ajib said the project will help expand UEMS's presence in the Central Region.

"We believe this land presents an opportunity for UEMS to create a boutique development for the upper-mid market purchasers.

"With our vast experience in developing high-rise developments in Mont'Kiara, we have all the expertise and skill sets required to replicate our success of this renowned international enclave for the Equine Land project.

"We are indeed very excited to tap the vast opportunities through this land acquisition," said Anwar.

At the midday break, UEMS gained 0.99% or 1 sen to RM1.02 with 658,100 shares done. — theedgemarkets.com

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