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KUALA LUMPUR: UEM Sunrise Bhd
is selling 169.8 acres of industrial parcels in Iskandar Puteri to AME Elite Consortium BhdRM434.30mil subsidiaries under a strategic collaboration proposal between the two companies.
UEM Sunrise said on Wednesday it had signed several definitive agreements for the sale of 72 freehold industrial parcels in Phase 3 of the Southern Industrial and Logistics Clusters (SiLC). The agreements were signed with Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd.
Anuar Kasim, UEM Sunrise’s managing director of commercial and performance delivery, said the sale would be the beginning of a strategic collaboration between UEM Sunrise, Iskandar Puteri’s owner and master developer, and AME.
AME builds large custom manufacturing plants and industrial park design and construction and development.
“We are confident that this collaboration with AME will be another catalyst for the Iskandar Puteri Master Development Plan, particularly to accelerate the growth and development of SiLC.
“This will have a positive impact on the rapidly growing Iskandar Puteri municipality, enhancing its livable qualities for the surrounding communities,” Anuar said.
The agreement will also create new business and employment opportunities in the region, he said. UEM Sunrise also expects it to promote a conducive economic environment to stimulate demand for southern UEM Sunrise real estate products.
UEM Sunrise expects the sale to contribute consistently to the group’s earnings over the next three to four years and that proceeds will be channeled into the company’s strategic initiatives, including new land bank opportunities.
Among the catalytic developments under the Iskandar Puteri Master Development Plan is the development of integrated industrial parks, of which SiLC forms an essential component.
UEM Sunrise noted that with SiLC Phases 1 and 2 exhausted, the collaboration with AME will allow Phase 3 to roll out more quickly as UEM Sunrise will deal with an industrial park specialist, rather than multiple parcel buyers.
According to the announcement, AME has committed to acquire the balance of industrial parcels in SiLC Phase 3.
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