(From left) Dutch Lady Milk Industries finance director Arent Naber and managing director Tarang Gupta pose for a photo with Sufian and UEM Sunrise chief marketing officer Kenny Wong after the signing ceremony.
KUALA LUMPUR: UEM Sunrise Bhd, one of Malaysia’s leading property developers, has acquired three parcels of land in Section 13, Petaling Jaya, Selangor for RM200mil.
UEM Sunrise’s wholly-owned subsidiary UEM Land Bhd signed a conditional sales and purchase agreement for the three parcels, located on Jalan Professor Khoo Kay Kim, measuring 9.93 acres.
Dutch Lady Milk Industries Bhd previously owned the land, which has been the centre for its factory operations and warehouse facilities.
Preliminary plans for the leasehold parcels will focus on delivering a mixed commercial development that will complement the ongoing redevelopment efforts for the entire Section 13 into a commercial hub.
The project is targeted for launch in the next two to three years and is estimated to have a gross development value of RM1.3bil.
This acquisition marks UEM Sunrise’s first project in the affluent Petaling Jaya township, further strengthening its portfolio in prime and upmarket locales.
“We are excited to continue providing customers high-quality homes in sought-after addresses, given Petaling Jaya’s prime and mature location that is equipped with wide accessibility as well as a good mix of amenities and lifestyle components.
“It also bodes well with our ongoing efforts to rebalance our portfolio and increase our foothold in the Klang Valley. It has been our growth plans to intensify our focus in key and strategic lands that can be tapped and provide a quick turnaround,” said UEM Sunrise chief executive officer Sufian Abdullah.
“What attracted us most about this land is its location within the Draft Special Area Plan Section 13 Petaling Jaya identified by Majlis Bandaraya Petaling Jaya to redevelop the area into a commercial hub as part of its urban renewal efforts,” he added.
The developer also purchased an 11.45-acre plot in Taman Pertama, Cheras, Kuala Lumpur last year. Located within the vicinity of the Taman Pertama MRT station of the MRT Sungai Buloh-Kajang Link, the land has been earmarked for a mixed high-rise development comprising approximately 2,400 apartment units.
The project has a GDV of RM1.1bil and is slated to be launched this year-end. UEM Sunrise’s total landbank currently stands at 11,092.8 acres with the latest additions, amounting to a GDV of RM107.9bil.
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