12 October, KUALA LUMPUR – UEM Sunrise Berhad (UEM Sunrise or the Company), one of Malaysia’s leading property developers, entered into a Heads of Agreement with AME Elite Consortium Berhad (AME) for the sale and development of 72 freehold industrial plots in phase 3 of Southern Industrial & Logistic Cluster (SiLC), as part of the bigger Iskandar Puteri Development Masterplan.
The total acreage of the industrial plots measures approximately 169.8 acres and valued at RM434.3 million.
UEM Sunrise, via its wholly-owned subsidiary UEM Land Berhad and its indirect wholly-owned subsidiary Nusajaya Heights Sdn Bhd, entered into the Heads of Agreement with AME’s subsidiaries; Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd.
The strategic collaboration is expected to generate positive synergies between UEM Sunrise, the landowner and master developer of Iskandar Puteri in Johor; and AME – a known specialist in the construction of customised large manufacturing plants and, design-and-build and development of industrial parks.
Among the catalytic developments under the Iskandar Puteri Development Masterplan is the development of integrated industrial parks, and SiLC forms an integral component of the masterplan. While SiLC’s phases 1 and 2 are sold out, the collaboration with AME for phase 3 to be developed into an integrated industrial park marks a strategic initiative from the Company’s standpoint as the collaboration allows the Company to leverage on AME’s extensive expertise and network.
UEM Sunrise Managing Director/Chief Executive Office Anwar Syahrin Abdul Ajib said, “We are pleased to have AME on board in developing phase 3 of SiLC, which has seen great success for phases 1 and 2. Our partnership with AME is one that has been carefully deliberated. Seeing their track record in developing industrial parks, we are confident that we will achieve tremendous results as we move forward with the Iskandar Puteri Development Masterplan.”
With the disposal, the Company will still hold more than 11,400 acres of land with an estimated Gross Development Value close to RM107 billion.