UEM Sunrise to dispose of land in Johor

The developer is looking at opportunities to secure more land in the central region


UEM Sunrise Bhd plans to dispose of pockets of land in Johor to consolidate its land in the central region.

UEM Sunrise MD and CEO Anwar Syahrin Abdul Ajib (picture) said it has been an ongoing strategy for the property developer to rebalance its landbank portfolio.

“Right now, we have about 4,046.86ha of land in Johor and we don’t have enough in the central region, so we need to have more land here.

“The market in the central region will always be strong if you come up with the right products and that is why we’re looking at opportunities to secure more land here,” Anwar Syahrin told reporters at the media updates on UEM Sunrise’s Upward Growth Momentum for 2018 in Kuala Lumpur yesterday.

The developer in executing its strategy has acquired 7.77ha of Equine Park land in Seri Kembangan, Selangor, last year.

Anwar Syahrin said the company will be careful and selective in disposing of its land.

UEM Sunrise needs to have a piece of sizeable land instead of small pockets of land in order to build a township and curate the community.

According to Anwar Syahrin, the developer also requires a significant amount of cash and one of the ways is through the disposals of land.

UEM Sunrise is not, however, planning to dispose of its land abroad as the acreage is limited.

Land disposals in Richmond, Canada, along with several pockets of land in Iskandar Puteri, have contributed about 19% of UEM Sunrise’s total revenue of RM2.9 billion for the financial year ended Dec 31, 2017 (FY17), against RM1.84 billion in FY16.

The developer’s sales target for 2018, meanwhile, remains prudent at RM1.2 billion, despite exceeding its 2017 target of RM1.49 billion.

UEM Sunrise aims to launch a gross development value of RM1 billion for 2018, which comprises mainly of midmarket projects.

“Meeting the market expectations on supplying affordable and mid-range products is also one of our pursuits,” Anwar Syahrin said.

With the mission to develop the next project in Mont Kiara that offers affordable prices, UEM Sunrise plans to launch a new high-rise residential apartment — Rumah Wilayah Persekutuan’s project — called Kondominium Kiara Kasih in the city towards the end of March this year.

The Iskandar Puteri master developer has successfully launched Serimbun, a 215-unit, double-storey link house project, starting from RM630,000 per unit in the township on Feb 10.