UOA plans RM3.7b launches this year

KUALA LUMPUR: UOA Development Bhd plans to launch projects worth a total of RM3.7 billion in gross development value (GDV) this year, said the company in its latest annual report.

The projects are two office developments and three residential projects located in urban areas such as Subang Jaya and Kuala Lumpur.

Scheduled to be launched in 2013 are subsequent phases of Kencana Square in Glenmarie, The Vertical Office Suites Phase II and South View Residence at Bangsar South and the full-fledged launch of Scenaria @ North Kiara Hills in Segambut and Desa Green in Taman Desa.

“Geographically, the Greater Kuala Lumpur area continues to be the focus of the group for future launches,” said Tan Sri Alwi Jantan, chairman of UOA, in its annual report for 2012 financial year (FY12).

UOA closed FY12 with revenue of RM799.2 million and net profit of RM301.3 million. During the year in review, the group recorded a new sales record of RM1.71 billion compared with RM848.3 million in the preceding year.

In its 2012 annual report, UOA said the record sales for the year were attributed to the strong take-up of the group’s new development projects launched during the year — Le Yuan Residence, One Bukit Ceylon, Vertical Office Suites Phase I, Kencana Square Retail Shops and Scenaria @ North Kiara Hills.

In addition to the new launches, FY12 also saw substantial sales from completed commercial projects in Kepong Business Park and Horizon Phase II.

In FY11, UOA completed two development projects, Binjai 8, a luxurious premium SoHo, and Setapak Green Condominium, a 445-unit high-rise residential project.