KUALA LUMPUR: UEM Sunrise Bhd is expected to launch its biggest property project this year in Kepong, Selangor with an estimated gross development value of RM690 million.
Chief marketing officer Kenny Wong said the initial phase of the project on 72 acres would comprise two blocks of high-rise condominiums.
“This is the first project for our development in Kepong. It will be similarly to ours in Mont Kiara. We will take 15 years to 20 years to build the area together with our joint-venture partners,” Wong said after launching UEM Sunrise’s mobile app called hUB here today.
The company expects warm response to the project.
“The Kepong project will be the new Mont Kiara. About 30-40 years ago, Mont Kiara was a jungle and UEM Sunrise developed the area,” he said.
Mont Kiara is an affluent township northwest of the city centre of Kuala Lumpur. The township consists of mainly commercial and high-rise residential developments.
“We will emulate the same success factors and combine with existing nature in Kepong, mainly the beautiful 150-acre lake, near to our development site.
“Whatever Mont Kiara is today, in 20 years’ time when Kepong is ready, I think it will be an even bigger and more progressive version of Mont Kiara,” he said.
UEM Sunrise will continue to focus on building high-rise development in Mont Kiara, banking on its total 24.3-acre landbank in the area.
“We have recently acquired about five-acre parcel of freehold land in Mont Kiara. We are looking at building 300 units of condominiums with relatively larger sizes of around 1,700 sq ft to 2,000 sq ft.
“We aim to launch the project in the third-quarter of 2020, featuring 300 units of high rise condominiums,” he said.
Wong added that UEM Sunrise had acquired another two pieces of land in Mont Kiara for future developments.
Meanwhile, UEM Sunrise’s hUb is to cater to its customers and future home buyers as part of its efforts to enhance customers experience.