UEM Sunrise puts Angkasaraya land up for sale

Property developer UEM Sunrise Bhd, has put up prime Angkasaraya land located opposite KLCC for sale via tender.

In an advertisement sighted in The Edge Weekly, the land identified as Lot 149, located at Seksyen 58, Bandar Kuala Lumpur, is open for sale via tender and the closing date is by 5 March 2021. The land size measuring 1.59 acres, is zoned as “City Center Commercial”. The site is one of the most prime sites in the country, as it is located right across the Petronas Twin Towers and enjoys double frontage of Jalan P Ramlee and Jalan Ampang.

Based on The KLCP2020 which was gazetted by the Ministry of Federal Territories on Oct 30 2018, the plot ratio for new projects in the capital city has been capped at 1:10. In one of theEdge articles published in 2019 on UEMS’ plan for Angkasaraya land, the developer said that the plot ratio approved for the land was 1:12 but that had lapsed as the developer was not ready to proceed with the project. The developer continued to say that Angkasaraya land will now have a plot ratio of 1:10 in accordance with KLCP2020.

Sunrise Berhad (company who bought the site before UEM Sunrise merger) acquired the site by acquiring Tanah Tuah Development Sdn Bhd for RM57.4 mil in May 2008. At the time of the acquisition, Tanah Tuah was in the process of purchasing the 1.6-acre parcel for RM152 million.

The developer had also appointed star architect firm – Büro Ole Scheeren in July 2010 for the design of the building. However, the proposed development did not materialise until today.

Photo credits: Büro Ole Scheeren

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