PETALING JAYA: UEM Sunrise Bhd is selling 4.9 acres in British Columbia, Canada for C$113mil (RM372.57) under its strategy to focus on the domestic market in Malaysia and to shift its international business focus to Australia.
The property company said on Monday its unit UEM Sunrise (Canada) Alderbridge Ltd was selling three parcels of land in New Westminister, Richmond, BC to South Street Development Group’s unit 1107782 BC Ltd.
UEM Sunrise said the purchase consideration reflected the prevailing market prices of similar properties in the vicinity.
It explained the sale was to focus on Australia where the UEM Sunrise Group has two ongoing projects and a third project currently in the pipeline.
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