UEM Sunrise unit eyes GDV of over RM750m
Published on: Wednesday, February 22, 2017
Kuala Lumpur: UEM Sunrise Bhd's unit, Sunrise Innovation Sdn Bhd, will develop the Malay College Old Boys Association (MCOBA)'s land here into a mixed development project, with a gross development value (GDV) in excess of RM750 million.The group said its unit would build two blocks of service apartments, together with other supporting facilities on the 1.07-hectare site, located along Jalan Syed Putra in Seputeh."The unit size ranges from 1,100 sq ft to 1,500 sq ft, and are targeted for mostly owner occupiers, especially families and upgraders from the surrounding areas," the parties said in a joint statement Tuesday.
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Under the deal inked between the group and the association today, the development also included the construction of a new office building for MCOBA and a 1,200 people capacity banquet hall.UEM Sunrise Managing Director and Chief Executive Officer Anwar Syahrin Abdul Ajib said the project provided an opportunity to leverage on the next property market upcycle. "MCOBA land's strategic location would appeal to city dwellers, due to its proximity to amenities and commercial hubs such as Mid Valley City and KL Sentral.Stay up-to-date by following Daily Express’s Telegram channel.
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