UEM Sunrise acquires 6.39-acre freehold land for RM384.04mil

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KUALA LUMPUR: UEM Sunrise Bhd has proposed to acquire a 6.39-acre piece of freehold land at Jalan Sultan Yahya Petra, Kuala Lumpur for RM384.04mil.

The property developer, in a Bursa filing, said its indirect wholly-owned subsidiary, Lucky Bright Star Sdn Bhd, had entered into a sale and purchase agreement with Nipponkey Sdn Bhd for the acquisition.

“The land is located in a prime and mature location, infrastructure-ready with good accessibility and connectivity.

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“It is positioned in close proximity to the Kuala Lumpur city centre which is a 2km drive via Jalan Sultan Yahya Petra and Jalan Tun Razak, aside from its short distance to Duke via the Semarak Interchange,” UEM Sunrise said.

It added that these features are appealing for future buyers and are advantageous for the company’s future pipeline and value proposition.

UEM Sunrise is planning to fund the proposed acquisition via internally-generated funds and/or bank borrowings (if necessary).