UEM Sunrise to launch RM1.6b worth of properties in FY19

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KUALA LUMPUR (March 20): UEM Sunrise Bhd plans to launch RM1.6 billion worth of properties in this financial year ending Dec 31, 2019 (FY19).

The real estate developer is also targeting RM1.2 billion worth of property sales during the year.

Managing director and chief executive officer Anwar Syahrin Abdul Ajib said UEM Sunrise is planning property launches in the Klang Valley in the Kepong and Bangi areas. In Johor, Anwar Syahrin said the group intends to launch properties in Gerbang Nusajaya.

“We are planning a few pockets (of) launches, (they will) be smaller-sized launches of about 150 to 200 units compared with 400 units previously,” Anwar Syahrin told reporters at the Invest Malaysia Kuala Lumpur 2019 event here today.

Reporters also asked Anwar Syahrin on UEM Sunrise's non-core asset monetisation.

He said the group’s plan to dispose of pockets of land is ongoing and is expected to be completed by the second half of this year.
 
“Our plans to monetise non-core assets is ongoing. We still have pockets of land that we feel are not for us to (develop), so we want to get other people to come in. If the price is right, we are okay to talk.

“It will take time. Discussions are always tough. People don’t want to overpay for land. So we hope we can have something solid around the third or fourth quarter of this year,” he said.