UEM Sunrise Bhd, through Sunrise Innovation Sdn Bhd (SISB) to undertake a mixed development project on Malay College Old Boys Association’s (MCOBA). It is located along Jalan Syed Putra in Seputeh, Kuala Lumpur. The total initial estimated Gross Development Value (GDV) for the project is in excess of RM750 million.
SISB will be redeveloping the 2.65-acre land where the existing MCOBA Building is located. The group‘s subsidiary will build a new office building and a banquet hall with a capacity for 1,200 people. Furthermore, SISB will also develop two blocks of service apartments together with other supporting facilities on the land.
The service apartments offer unit sizes ranging from 1,100 sqft to 1,500 sqft, which target mostly owner occupiers. In addition, the demographic of these occupiers are mostly families and upgraders from the surrounding areas.
Anwar Syahrin Abdul Ajib, managing director and CEO of UEM Sunrise says the project will help expand UEM Sunrise’s existing property portfolio in the Central Region. It is also an opportunity for the company to leverage on the next property market upcycle.
“MCOBA land’s strategic location would appeal to city dwellers due to its proximity to amenities and commercial hubs such as Mid Valley City and KL Sentral. Being centrally located with easy access to surrounding hotspots, the development will become a new land mark for the locality.” he adds.
MCOBA President YM Tunku Dato’ Ahmad Burhanuddin Tunku Dato’ Seri Adnan says this collaboration that would unlock the value of our asset and generate sustainable income for MCOBA.
“This development is for our future, as we continue our tradition and commitment to be part of the stakeholder support system to produce Malaysia’s leaders and captains of industries.”
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