Firm ex­pects bet­ter year but wary of soft sen­ti­ment in prop­erty mar­ket

New Straits Times - - Business -


KUALA LUMPUR zari­naz@me­di­aprima.com.my

UEM Sun­rise Bhd plans to launch projects with a gross devel­op­ment value (GDV) of RM1.7 bil­lion this year amid a cau­tiously op­ti­mistic out­look.

Man­ag­ing di­rec­tor and chief ex­ec­u­tive of­fi­cer An­war Syahrin Ab­dul Ajib said UEM Sun­rise ex­pected a bet­ter year but was cau­tious about the soft sen­ti­ment in the prop­erty mar­ket. Hence, it has cho­sen to go on a mod­er­ately ac­tive mode of sales this year.

“We are look­ing at po­ten­tially launch­ing projects worth about RM1.7 bil­lion lo­cally and in­ter­na­tion­ally, and we are on track for that. Hope­fully, by the sec­ond half of the year, we can carry out some good launches.

“How­ever, we need to be mind­ful of the mar­ket. We are cau­tious, but there are still some bright sparks. We have to be care­ful with our tar­get mar­ket, but I be­lieve peo­ple will still buy if it is the right prod­uct at the right pric­ing.

“While we would like to be ag­gres­sive, we still have to be cau­tious, but I think there is no harm in be­ing care­ful in in­tro­duc­ing some prod­ucts that meet the cus­tomers’ ex­pec­ta­tions,” he said at a brief­ing on Ar­coris Mont’ Kiara yes­ter­day.

UEM Sun­rise is tar­get­ing RM1.2 bil­lion in sales this year. Last year, it re­vised its RM1.5 bil­lion sales tar­get to RM1 bil­lion and man­aged to achieve RM1.4 bil­lion.

He said the launches would com­prise six to seven projects this year in Malaysia and abroad, with a sur­plus of 201ha in avail­able land­bank.

“We ex­pect to make some good an­nounce­ments in the next few months on our land­bank. How­ever, we need some time to as­sess sites and do the due dili­gence.”

Ar­coris Mont’ Kiara is a mixed­based com­mer­cial high-rise devel­op­ment lo­cated in Mont Kiara, com­pris­ing five in­te­grated com­po­nents with a RM1.2 bil­lion GDV.

The devel­op­ment was de­signed by Fos­ter + Part­ners, a Lon­don­based global ar­chi­tec­ture and de­sign firm, which had pre­vi­ously de­signed The Troika and Univer­siti Te­knologi Petronas.

The project handover would start from mid­dle of this month in batches.

The five in­te­grated com­po­nents are busi­ness, home of­fice suites, ser­viced res­i­dences, ho­tel and re­tail, namely Ar­coris Suites, Ar­coris Soho, Ar­coris Res­i­dences, Hy­att House and Ar­coris Plaza.


(From left) Fos­ter + Part­ners’ Roland Sch­nizer, UEM Sun­rise project di­rec­tor Liong Kok Kit, UEM Sun­rise man­ag­ing di­rec­tor and CEO An­war Syahrin Ab­dul Ajib and Fos­ter + Part­ners’ Jonathan Parr at the brief­ing on Ar­coris Mont’ Kiara in Kuala Lumpur yes­ter­day.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.