UEM Sunrise to hand over Arcoris Mont’Kiara midMay

KUALA LUMPUR: UEM Sunrise Bhd is set to hand over its RM1.2 billion mixed commercial development project, Arcoris Mont’ Kiara, by next week.

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

Speaking at a press conference yesterday, its project director for Development, Liong Kok Kit, said the handover would be done in several stages, starting with the Arcoris Suites, and followed by the residential units.

He said the hotel component, namely the Hyatt House, would be operated by the internationally renowned Hyatt brand.

“It is a viable option for business travellers seeking accommodation for their mid- to longterm stay at Mont’Kiara, and we plan to do a soft launch for the hotel in September,” said Liong.

Managing director/chief executive officer, Anwar Syahrin Abdul Ajib, said UEM Sunrise would take its time in finalising the tenants for the retail component, Arcoris Plaza, as the group wanted a unique set of operators, similar to the concept of its other commercial development, Publika.

“We are talking to a few potential retail tenants, and we will be selective with the tenant mix,” he said.

On prospects, Anwar Syahrin said UEM Sunrise was optimistic about its performance, given its RM1.7 billion worth of projects lined up for this year and RM1.2 billion sales target.

He said the group still has 202.34 hectares of available landbank, situated in strategic locations across Kuala Lumpur.

“Every year, we allocate between RM300 million and RM500 million of our capital expenditure to acquire land, and we will be announcing something new within the next couple of months,” he said. — Bernama