This article first appeared in City & Country, The Edge Malaysia Weekly on September 8, 2025 - September 14, 2025

It was a cool winter morning in July when we journeyed from Perth’s CBD to the suburb of Subiaco, passing the lush gardens of Kings Park. Upon arrival at the site of One Oval, which is UEM Sunrise Bhd’s (KL:UEMS) first project in the Australian city, we were greeted by a quiet, charming neighbourhood with eclectic architecture, ranging from Federation-style homes to California-style bungalows, and wide pedestrian pathways lined with mature trees.

Right next to the site of the mixed-use development is the former Subiaco Oval stadium. While the stadium has been demolished, its seating areas, entrance gates (called Heritage Gates park) and playing surface have been retained. The latter has been integrated into Bob Hawke College, which is on the other side of the field.

Following the unveiling of its sales gallery in Perth, UEM Sunrise is now preparing to open One Oval’s sales gallery in Mont’Kiara, Kuala Lumpur in conjunction with the official launch here on Sept 20 and 21.

“To build momentum, we will be launching One Oval in Kuala Lumpur. This initiative is part of our cross-market engagement strategy, aimed at building early interest, showcasing the project’s distinct offerings and reaching a broader audience beyond Western Australia, particularly here in Malaysia,” says UEM Sunrise officer in charge and chief financial officer Hafizuddin Sulaiman in an exclusive interview.

Located at the intersection of Roberts Road and Haydn Bunton Drive, One Oval sits on a 4,930 sq m (1.22 acres) piece of land and has a gross development value of A$450 million (RM1.35 billion).

^{Hafizuddin: Perth is the place to be … From a trajectory standpoint, we feel there is a steeper climb in price discovery in Perth because it has been lagging.” (Photo by Low Yen Yeing/The Edge)}

The development is spread over two lots. Lot 1 comprises 245 residential units, including 16 townhouses. The townhouses, which sit on the podium of the building, are two- and three-level units combining the spaciousness and flexibility of townhouses with the convenience of apartment living. There are also four retail units (340 sq m) in Lot 1. Meanwhile, Lot 2 consists of 97 units (including 41 affordable housing units).

Lot 1 offers luxury and premium apartments and townhouses targeted at owner-occupiers, downsizers, working professionals and families. Lot 2 comprises premium apartments and affordable housing that caters to eligible low- to moderate-income households, with potential residents including independent retirees or seniors, single-person households or couples with modest fixed incomes and essential workers in aged care, healthcare and early education.

Construction is expected to commence in mid-2026 with Lot 2 expected to be completed in 1Q2029 and Lot 1 in the later part of the same year.

Lot 1 will have two facility floors — on Level 4 (accessible to all residents) and Level 26 (only accessible to residents from Level 26 to 35). Among the facilities on Level 4 are a swimming pool, a hot and cold plunge pool, cinema room, golf simulator, gymnasium, BBQ area and dining lounges. Level 26 will have a communal kitchen, dining lounge, reading room, lounge with fireplace and rooftop gardens. Facilities at Lot 2 include a BBQ area, dining zone, flexible lawn area that serves as an exercise area, podium gardens and breakout spaces.

The units will have built-ups ranging from 77 to 273 sq m. The open market units will be priced from A$640,000 to A$2 million while the 41 affordable housing units will be sold en bloc to a community housing provider (CHP).


^{Among the many facilities at One Oval is a swimming pool (Photo by UEM Sunrise)}

“The benefit is that the CHPs already have the data points. That means they can readily access their own data to activate the affordable housing component. From an efficiency standpoint, they are able to manage that transaction well. There are three active CHPs and we are in conversation with them,” says Hafizuddin.

After the en bloc sale, the affordable housing will be owned and managed by a regulated CHP that will apply strict tenant screening, income criteria and tenancy agreement standards.

“Selling the affordable housing component to CHP ensures the units are allocated and managed by a specialist organisation with the capability to maintain affordability over the long term for those who need it most. This is a well-established approach in Australia and will help foster a balanced, integrated community at One Oval,” he explains.

Besides the affordable housing requirements, UEM Sunrise is also fulfilling its environmental, social and governance objectives by integrating sustainability into One Oval’s design.

The developer aims to achieve a 5-star Green Star rating under the new Green Star v1.0 certification. One Oval is designed to be energy-efficient and infrastructure-ready to support further optimisation of its performance.


^{One Oval will be built to complement the surrounding public spaces (Photo by UEM Sunrise)}

“The residential component will achieve an average 7.5-star rating (the highest being 10 stars) under Australia’s Nationwide House Energy Rating Scheme with no unit below 6.5 stars, ensuring greater energy efficiency and comfort. The building will use 10% less potable water and 20% less embodied carbon compared to reference buildings. It will also be fully electric with no gas and has the potential to include solar panels,” says Hafizuddin.

“Additional sustainability features include water-efficient fittings and electric vehicle (EV) charging infrastructure in 5% of car spaces, with the capacity to expand to 100% EV readiness. These measures will help future-proof One Oval against rising energy costs [as a result of] climate-related challenges while enhancing the long-term well-being of its residents and the wider community.”

Complementing Subi East redevelopment programme

Hafizuddin highlights that One Oval is aligned with the state government’s central and land development agency’s (DevelopmentWA) Subi East Redevelopment Plan, which aims to revitalise the northeastern corner of Subiaco.

“There’s an opportunity to create homes and deliver a place that is modern and sustainable, especially in the Subiaco suburb. We do feel that we have a product that would complement Subiaco’s own journey in terms of liveability. We are in alignment with what DevelopmentWA seeks to do in terms of the redevelopment of Subiaco,” he says.

The master plan aims to rejuvenate the 35ha (86.5 acres) land that surrounds the former Subiaco Oval (the Oval) into a vibrant inner-city village that respects the area’s rich heritage while introducing new residential, commercial and public spaces to meet the needs of the growing population.



Hafizuddin observes that DevelopmentWA and the City of Subiaco (city council) have taken a phased approach to the redevelopment project. It began with the demolition of the stadium in 2019 and the construction of Bob Hawke College.

“When they first initiated the teardown of the original stadium, they concurrently [built] Bob Hawke College. So it was a very phased [and careful] approach to keep the community intact ... until there is an opportunity to activate a site, for example like One Oval, then that is where the step-up will come. This tells me that the city council and DevelopmentWA are very disciplined in ensuring the redevelopment plan succeeds.”

In line with DevelopmentWA’s objectives, UEM Sunrise also aims to create spaces beyond housing that could bring the community together. Hafizuddin notes that the retail space at One Oval will be an opportunity to complement the surrounding public spaces.

“From DevelopmentWA’s perspective, they maintained a few parts of the Oval such as Heritage Gates park. We’re also preserving an aboriginal trail within our site. It is under the council’s purview but we are ensuring that it fits into the total development plan.

“Beyond what is already there, we believe our development will be inclusive, as we aim to support the arts and sports communities within the space. We have a retail podium [that can be accessed by the public] that would add to the offerings around the Oval itself. We believe it can support the community [given the activities that take place at the Oval] — having the art and sports scene complemented by retail overlooking the Oval itself, which leads to the overall support.”


^{An artist's impression of the living room and kitchen in one of the units at One Oval (Photo by UEM Sunrise)}

Hafizuddin is positive on Perth’s property market growth trajectory given the target to deliver 2,700 new homes under the master plan.

“Perth is the place to be. We’ve done an extensive market review. The fact remains that Melbourne will always be the key market as it has its own established catchment. That’s a given. From a trajectory standpoint, we feel there is a steeper climb in price discovery in Perth because it has been lagging.

“Australia requires 1.2 million homes by 2030 and we are only delivering 342 units, which may feel like a drop in the ocean. But, if you think about it, Perth is the 15th-largest economy in the world and therefore, we want to build in Perth. The fact that we are here, playing by the game and by the rules and working closely with DevelopmentWA and City of Subiaco shows that we [are aligned] in terms of that vision,” says Hafizuddin.

First build-to-rent project

UEM Sunrise is also set to embark on a build-to-rent (BTR) project in Collingwood, Melbourne.

“Our Collingwood development marks UEM Sunrise’s entry into Australia’s BTR sector, responding to growing demand for high-quality rental housing that offers flexibility without compromising on lifestyle,” says Hafizuddin, adding that the developer received planning permit approval from the Minister for Planning via the Victorian State Government’s planning approval pathway last December.

He says it is in talks with several parties as its previous partnership with Australian property investment firm Greystar did not proceed as planned. UEM Sunrise had entered into a partnership agreement with Greystar as the investor and owner-operator via a fund-through structure in June 2023.

“While our initial partnership with the previous investor did not proceed, we are currently in discussion with several parties for a BTR fund-through arrangement. We remain confident in our BTR strategy and the sector’s growing momentum nationwide,” Hafizuddin explains.

The A$277.8 million project, which sits on a 5,390 sq m (1.33 acres) site, is located at the eastern entry point of Collingwood. It will feature 407 apartments in two towers (16 and 18 storeys), with layouts ranging from studios to three-bedroom units.

There will be 1,300 sq m of retail space on the ground floor, pedestrian laneways and over 1,000 sq m of public and semi-private courtyard space that is designed to encourage vibrant community activities or quiet relaxation. In addition, it will have new green spaces, bicycle parking bays, EV charging stations, a swimming pool, gym, movie room and entertainment spaces, concierge, co-working spaces and communal rooftop garden for residents’ use.

Source by: The Edge