UEM Sunrise to build RM15 billion mixed development near Kepong Metropolitan Park

UEM Sunrise Bhd has acquired 72 acres (29.14ha) of leasehold land near a lake garden in Kepong to undertake a mixed commercial development, with an estimated gross development value (GDV) of RM15 billion.

The property developer’s wholly-owned subsidiary, Sunrise Bhd, has entered into an agreement with Mega Legacy Equity Sdn Bhd to collaborate in developing the land over 15 years. The land is located adjacent to the Kepong Metropolitan Park (also known as Taman Layang-layang). The developer intends to replicate the success of Solaris Dutamas and communities of Mont’Kiara to this development, and the development will include serviced apartments and commercial offerings.

The Development Order for the land was obtained in August 2017 for a mixed commercial use with a plot ratio of 1:6 and include two (2) interchanges to be constructed connecting directly to the Middle Ring Road II (“MRR II”).

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Land Info:

Title No.	Lot No.	Location	Tenure	Land Area
119298	26684	Mukim Batu, Daerah Kuala Lumpur Wilayah Persekutuan Kuala Lumpur	99 years Leasehold expiring on 29 December 2112	5.88
119299	26685			5.78
119296	26691	Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur		8.97
119295	26692	Mukim Batu, Daerah Kuala Lumpur Wilayah Persekutuan Kuala Lumpur		6.30
119297	26693			11.87
119302	26686			4.27
119303	26687			5.67
119304	26688			7.12
119301	26689			10.68
119300	26690			6.20

Category of Land Use: Building
Land Valuation: RM950 million (RM300 psf)
Date of transaction: 13 April 2018
Note:
1. The land was valued by Raine & Horne at RM950 mil (RM300 psf) on the following basis:
-Lands are converted into commercial use with plot ratio of 1:6 with all premiums paid.
-The new amended development plan is approved by authority.
-The lands will enjoy direct ingress and egress to MRR2 and delivered to purchaser with vacant possession.

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Location Map: