30 December, KUALA LUMPUR – UEM Sunrise Berhad (UEM Sunrise or the Company), one of Malaysia’s leading property developers, has inked several definitive agreements today for the sale of 72 freehold industrial plots measuring approximately 169.8 acres in Phase 3 of Southern Industrial & Logistics Clusters (SiLC) with wholly-owned subsidiaries of industrial park specialist, AME Elite Consortium Berhad (AME) for a total consideration of RM434.3 million.
The agreements were signed with Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd.
UEM Sunrise Chief Officer, Performance Delivery and Commercial, Anuar Kasim said that the sale would be the start of a strategic collaboration between UEM Sunrise, the landowner and master developer of Iskandar Puteri and AME, a known and proven specialist in the construction of customised large manufacturing plants and, design-and-build and development of industrial parks.
“We are confident that this collaboration with AME will be another catalyst for the Iskandar Puteri Development Masterplan, particularly in accelerating the growth and development of SiLC. This will have a positive impact on the rapidly growing township of Iskandar Puteri, enhancing its livable qualities for the surrounding communities.
“This deal will also create new business and employment opportunities in the region. Additionally, it helps promote a conducive economic environment to spur demand for UEM Sunrise’s southern property products,” he said.
The sale is expected to steadily contribute to UEM Sunrise group’s earnings over the next three to four years with proceeds to be channelled towards the Company’s strategic initiatives including new landbanking opportunities.
“After a challenging year brought on by the Covid-19 pandemic, numerous lockdowns and the closing of international borders, we are very pleased to be able to close 2020 with this strong partnership which will not only be mutually beneficial to both parties, but one which will also elevate Iskandar Puteri to greater heights,” Anuar added.
Among the catalytic developments under the Iskandar Puteri Development Masterplan is the development of integrated industrial parks, of which SiLC forms an essential component.
With Phases 1 and 2 of SiLC sold out, the collaboration with AME will enable the roll out of Phase 3 more rapidly as UEM Sunrise will be dealing with an industrial park specialist, rather than several plot buyers. AME has given its commitment via the definitive agreements to acquire the entire balance of industrial plots in SiLC Phase 3.