KUALA LUMPUR, Aug 28 — UEM Sunrise Bhd is planning to launch 15 new projects with a gross development value (GDV) of RM2 billion in 2020.
Managing director and chief executive officer Anwar Syahrin Abdul Ajib said the bulk of the launches, comprising landed and high-rise developments, would take place in the second half of the year.
“The last chunk of the RM2 billion is for the Solaris Park Phase B project. It is a mixed development of residences, an office tower and retail outlets.
“I think those who missed the Publika (project) the first time around, will probably be interested in coming in this time,” he told reporters at the UEM Sunrise second-quarter results briefing here, today.
For this year, the company has set a target of developing RM1.2 billion in GDV projects and Anwar Syahrin is confident the company can achieve it.
He said as of the first half ended June 30, 2019, UEM Sunrise had developed projects with a GDV of RM249.3 million comprising mid market double-storey terrace homes, phase two of Serene Heights Dahlia, as well as phases one and two of the Aspira ParkHomes.
He said for the second half of the year, there were projects with a GDV of RM942 million comprising the Kepong Plot 5, Serena Heights’ Eugenia and Phase 10, Aspira Square, Aspira Gardens and Senadi Hills Phase 1A developments.
Anwar Syahrin said UEM Sunrise also planned to develop a RM300 million GDV project in South Africa through a partnership soon.
With the participation in the Home Ownership Campaign, the company managed to sell more than RM200 million units.
“Our inventory monetisation efforts are also on track considering that 35 per cent of our sales for the period was from completed properties.
“In terms of new launches, the bulk of the sales was for the Aspira ParkHomes in Gerbang Nusajaya,” he added.
As for the divestment of Mayfair’s 412 St Kilda Road site in Australia, he said the exercise is targeted to be completed before year-end.
“We have made it a top priority to inform buyers of the decision and terminate the sale and purchase agreements, while refunding deposits plus interest accordingly,” Anwar Syahrin said.
On rumours of the sale of the company’s Hyatt House Kuala Lumpur, Mont’ Kiara, he said if the right offer comes, the company was willing to consider. — Bernama