UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) through its wholly-owned subsidiary, Sunrise Alliance Sdn Bhd (“SASB”) inked a Sale and Purchase Agreement (“SPA”) with Kemaris Residences Sdn Bhd (“KRSB”) recently to acquire a 19.24-acre land for RM109.50 million in Taman Equine, Seri Kembangan, Selangor (“Equine Land”).
The Development Order has been approved for Equine Land comprising 924 residential units. Targeting at upper-mid market purchasers, the total initial estimated Gross Development Value for the project is in excess of RM700 million.
Taman Equine is located approximately 18km to the south of Kuala Lumpur city centre and is easily accessible via Maju Expressway (“MEX”), Lebuhraya Damansara Puchong (“LDP”), and South Klang Valley Expressway (“SKVE”). The Equine Park MRT2 Station which is currently under construction is located 1.3km to the south of Equine Land.
Anwar Syahrin Abdul Ajib, UEM Sunrise’s Managing Director/Chief Executive Officer said the project will help expand UEM Sunrise’s presence in the Central Region.
“We are very pleased to have an opportunity to acquire this land, as prime land in such a mature and established neighbourhood is scarce. We believe this land presents an opportunity for UEM Sunrise to create a boutique development for the upper-midmarket purchasers.
“The key selling points for the project would be the location and its accessibility. AEON Taman Equine, Alice Smith International School, and two hypermarkets are located within a 3km radius. The MRT2 line would connect Taman Equine to key commercial areas,” he said.
“With our vast experience in developing high-rise developments in Mont’Kiara, we have all the expertise and skill sets required to replicate our success of this renowned international enclave for the Equine Land project. We are indeed very excited to tap the vast opportunities through this land acquisition,” Anwar added.
The signing ceremony was held at UEM Sunrise’s Office in Solaris Dutamas, Kuala Lumpur. Anwar Syahrin led the signing followed by Nor Din Abdullah, Director of SASB, whilst KRSB were represented by Alex Lee, Executive Director of KRSB and Company Secretary, Stanley Loong. The transaction is conditional upon KRSB obtaining the state consent to transfer Equine Land to SASB.
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