Introduction

In 2010 the property merger ball started rolling with UEM Land Holding’s conditional takeover of Sunrise Bhd which will create Malaysia’s largest property company with a market capitalization of nearly RM10 billion and a 12,000-acre landbank (source click UEM Sunrise Merging).

​

UEM is the largest landowner in Iskandar Development Region and Sunrise brand name was synonym with condo development particularly in Mont Kiara. The merge was to create synergy as both entities have culture, landbank, expertise strengths where the merger should create 1+1=3.

​

Fast forward today, the property market conundrum has caused most of the property developers lost major chunk of company value and UEM Sunrise was not spared.

​

UEM Sunrise’s maiden project in Mont Kiara, The Pines was completed in 1993. Since then, they have completed many more projects and for long term sustainability of the company before they running out of land in Mont Kiara, they have to source for new landbank which can sustain their company for next 15-20 years.

​

In 2018, UEM Sunrise has acquired 72.73 acres (29.14ha) of leasehold land near a lake garden in Kepong to undertake a mixed commercial development, with an estimated gross development value (GDV) of RM15 billion (Source Kiara Bay News). The land was acquired with purchase consideration of RM279.3millions.

​

UEM Sunrise intends to replica the success of Mont Kiara in this development and aptly name the whole development Kiara Bay.