Back

UEM Sunrise Granted Rights to Develop MCOBA Land at Jalan Syed Putra, Kuala Lumpur

UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) through its wholly-owned subsidiary, Sunrise Innovation Sdn. Bhd. (“SISB”) inked a Development Agreement with the Malay College Old Boys Association (“MCOBA”) today to undertake a mixed development project on MCOBA’s land located along Jalan Syed Putra in Seputeh, Kuala Lumpur.

Under the agreement, SISB will redevelop the land where the existing MCOBA Building is located and deliver to MCOBA a new office building and a banquet hall with a capacity for 1,200 people. SISB will also develop two blocks of service apartments together with other supporting facilities on the land. The total initial estimated Gross Development Value for the project is in excess of RM750 million.

Targeting at mostly owner occupiers, especially families and upgraders from the surrounding areas, the unit sizes to be offered will range from 1,100 sq ft to 1,500 sq ft.

Anwar Syahrin Abdul Ajib, UEM Sunrise’s Managing Director/Chief Executive Officer said the project will not only help expand UEM Sunrise’s existing property portfolio in the Central Region, but it is also an opportunity for the Company to leverage on the next property market upcycle.

“We are very excited to embark on this synergistic venture with MCOBA. Seputeh is a mature residential neighbourhood, connected to Kuala Lumpur city centre and other urban areas through Jalan Syed Putra. 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 and with easy access to surrounding hotspots, the development will become a new land mark for the locality.”

“MCOBA has long been a steward for some of the country’s leaders and industry captains who see the organisation as a bulwark of top-quality education alongside a heritage of success stories. As such, we are deeply honoured to be trusted with the development rights of MCOBA’s land,” he added.

MCOBA President, YM Tunku Dato’ Ahmad Burhanuddin Tunku Dato’ Seri Adnan said, “This signing marks an important milestone in MCOBA’s history. It is a 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.”

The signing ceremony was held at the UEM Sunrise Showcase in Mont’Kiara, Kuala Lumpur. Anwar Syahrin Abdul Ajib led the signing followed by Nor Din Abdullah, Director of SISB whilst MCOBA was represented by YM Tunku Dato’ Ahmad Burhanuddin, accompanied by Dzulkifly Mohd Zain, the Deputy President as a witness.

Tun Mohammed Hanif Omar, Chairman of the Malay College Kuala Kangsar’s (“MCKK”) Board of Governors as well as Chairman of MCKK Foundation together with Tan Sri Dr. Ir. Ahmad Tajuddin Ali, Chairman of UEM Sunrise were also present to witness the signing ceremony.