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UEM Land eyes RM3b in sales for 2012

KUALA LUMPUR (Jan 11): UEM Land Holdings Bhd is targeting RM3 billion in property sales this year, riding on new launches with a gross development value (GDV) of RM5.5 billion.

CEO Datuk Wan Abdullah Wan Ibrahim said the group will be launching properties in Nusajaya (Johor), Mont'Kiara, the Kuala Lumpur central business district, and Bangi and Kajang (Selangor). The properties include mixed developments of residential, commercial and office spaces.

Wan Abdullah said the UEM Land group fulfilled its target of RM2.2 billion in sales last year and is confident of achieving RM3 billion in sales in 2012.

(From left): Iskandar Investment Bhd CEO Datuk Syed Mohamed Syed Ibrahim exchanging documents with Wan Abdullah after the signing of the joint venture agreement"We expect a dramatic increase in the take-up rate this year," he said, adding that his optimism is based on the strong uptake and sales achieved in the past two years.

Wan Abdullah was speaking to reporters after a signing ceremony between UEM Land and Medini Security Services Sdn Bhd on Tuesday.

The signing of the joint venture agreement on Tuesday was for Medini Security Services, a wholly-owned subsidiary of Iskandar Investment Bhd, and UEM Land to form a full-fledged security service company to provide enhanced security for Nusajaya, one of the five nodes of Iskandar Malaysia.

Services will be carried out in two phases. Phase 1 includes the guarding of premises, monitoring and response, event and critical infrastructure protection. Phase two will comprise all aspects of Phase 1 plus individual security escort teams, training, consultancy and corporate security.

The security service company will spend about RM8 million in its first year, with RM4 million for vehicles and communication equipment.

The sum will increase annually as the company increases the amount of CCTV cameras on the Nusajaya Loop later on.

Although the joint venture company will not be a profit centre, it will earn revenue from the provision of security services to any project in the Nusajaya area, said Wan Abdullah.

He said 20 auxiliary police officers have been deployed to Nusajaya with a further 160 to be deployed by 2015.

"This initiative is part of the Nusajaya Security Blueprint we had developed and practised throughout the zone. While relying on technology to provide a single and uniformed security platform, we believe that omnipresence is also key in providing residents with a more secure environment and in gaining the confidence of investors and ultimately, peace of mind for Nusajaya stakeholders," he said.

Asked about the progress of UEM Land's bid for the 7.6ha in Bangsar at the intersection of Jalan Bangsar and Jalan Maarof, Wan Abdullah said the group has been shortlisted and invited to present its case again to the panel. When it is fully developed, the parcel of land will have an estimated GDV of RM5 billion.

The land used to house Unilever (M) Holdings Sdn Bhd's plant and was owned by Perbadanan Aset Keretapi. Its new owner, Pelaburan Hartanah Bhd, a government entity set up to promote bumiputera ownership of prime real estate, opened the tender for the development of the land last year and will announce its decision in the first half of 2012.

Other bidders include Mah Sing Group Bhd and Land & General Bhd.

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