UEM Sunrise Bhd (UEM Sunrise) has announced that its wholly-owned subsidiary UEM Land Bhd and an indirect wholly-owned subsidiary Nusajaya Heights Sdn Bhd have entered into two separate Heads of Agreement (HOAs) with AME Elite Consortium Bhd (AME) units.
UEM Sunrise will sell 169.8 acres of land in Johor to AME for RM434.3 million.
Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd were the signatories of the first HOA involving 2 SPAs valued at RM416.10 million. The second HOA was signed exclusively by Pentagon for the disposal of three non-Bumiputera lots worth RM18.2 million.
The agreements are for the disposal of 72 freehold industrial parcels at Phase 3 of the Southern Industrial & Logistics Clusters (SILC) in Iskandar Puteri, Johor, where UEM Sunrise is the owner and master developer.
UEM Sunrise has decided to collaborate with AME Elite Consortium Bhd to develop an integrated industrial park development.