UEM Sunrise unveils RM1bil property project in Melbourne

KUALA LUMPUR: UEM Sunrise Bhd has launched its third project, Mayfair, with a gross development value (GDV) of RM1bil in Melbourne, Australia.

Managing director and CEO Anwar Syahrin Abdul Ajib said construction on the single-phase residential project would start in the first quarter of next year and scheduled for completion in the second quarter of 2021.

“This project will continue UEM Sunrise’s prodigious presence in Melbourne following our two successful developments. We want to create the next landmark with an equally innovative and spectacular development that redefines luxury.

“Today, luxury is less about material objects and more about unique experiences, personalisation and sense of place,” he told reporters after the launch of the project here.

Mayfair offers 158 bespoke residences with layouts of one to five bedrooms, built-ups from 750 sq ft to 6,000 sq ft and priced from RM2.44mil to RM43mil.

Once completed, Anwar Syahrin said these three mixed-use developments would have an estimated combined value of RM4.88bil.

He said the group’s maiden venture in Melbourne, the Aurora Melbourne Central consisting of 92-storey high-rise mixed-use development, was launched in 2014 and is to date 30% completed and sold out.

The second project in Melbourne, the Conservatory comprising 446 apartments contained in a 42-storey tower, is currently 28% completed and had achieved 93% take-up rate, he said. — Bernama