news

UEM Sunrise rebalances land portfolio with sale of 252.15ha plot in Tapah

KUALA LUMPUR (Aug 26): UEM Sunrise Bhd (UEM Sunrise) is rebalancing its landbank portfolio by entering into a sale and purchase agreement with Lagenda Properties Bhd for the divestment of part of the of the company’s non-strategic land in Tapah, Perak measuring 252.15 hectares (ha) for RM29.9 million.

In a statement today, the company said the divestment is expected to be completed in August 2021.

Its managing director/chief executive officer, Anwar Syahrin Abdul Ajib (pictured) said the divestment of the Tapah land is akin to what UEM Sunrise has been doing in Iskandar Puteri and company’s plan to use the proceeds towards the funding of new land acquisitions in line with its strategy to rebalance landbank portfolio.

“Our strategy to geographically diversify and increase presence in the Klang Valley has always been our main focus. All the while, we have been divesting non-strategic pocket lands in Iskandar Puteri, utilising the proceeds received towards acquiring new lands in the Klang Valley,” he said in a statement.

The company still holds approximately 4694.35 ha, including the remaining 721.15-ha agriculture land, with an estimated gross development value close to RM107 billion.

The entire Tapah land, including the land disposed of to Lagenda Properties, represents 20 per cent of UEM Sunrise’s total landbank.

EdgeProp Malaysia Virtual Property Expo 2020 (VPEX 2020) is happening now! Find out more exclusive projects and exciting deals here

Stay safe. Keep updated on the latest news at www.EdgeProp.my 

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. UEM Sunrise concludes RM365.5m sales of Aurora Melbourne to Scape Australia
  2. Lagenda Properties and Bina Darulaman ink MOU to jointly develop affordable housing in Kedah
  3. EcoWorld asks for more time to consider proposed merger with UEM Sunrise