UEM Sunrise buys Seri Kembangan land to develop RM700 million GDV project

PETALING JAYA: UEM Sunrise Bhd is acquiring 19.24 acres of land in Taman Equine, Seri Kembangan for RM109.5 million for a project worth over RM700 million in gross development value (GDV).
The property developer told Bursa Malaysia that its wholly owned subsidiary Sunrise Alliance Sdn Bhd had inked a sale and purchase agreement with Kemaris Residences Sdn Bhd for the acquisition.
Targeting at upper-mid market purchasers, UEM Sunrise said the development order has been approved for the land comprising 924 residential units.
Taman Equine is located approximately 18km to the south of Kuala Lumpur city centre, and is easily accessible via Maju Expressway, Lebuhraya Damansara Puchong (LDP) and South Klang Valley Expressway (SKVE).
At the noon break, UEM Sunrise's share price gained 1 sen or 1% to RM1.02, with some 658,100 shares changing hands.