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Tuesday, January 10, 2012

UEM Land plans to launch RM5.5bil worth of properties

KUALA LUMPUR: UEM Land Holding Bhd, which plans to launch RM5.5 billion worth of properties, aims to record sales of RM3 billion this year.

Managing Director/Chief Executive Officer Datuk Wan Abdullah Wan Ibrahim said the properties were located in Johor, Kuala Lumpur Central Business District, Mont Kiara and Bangi.

UEM Land achieved sales of RM2 billion last year, he told reporters here today after the company inked a joint venture agreement with Medini Securities Services Sdn Bhd to enhance security features in Nusajaya.

Datuk Wan Abdullah Wan Ibrahim

Since the mid-90s, 11,000 units of residential properties were sold in Nusajaya by UEM Land and other developers.

"The company alone sold 3,500 units since 2006.

"We expect the demand structure to continue this year," Wan Abdullah said, adding that the take up rate stood at 85 per cent, currently.

On the joint-venture, he said the company has collaborated to form a full-fledged security service company with Medini Security to provide enhanced security for Nusajaya.

Eight million ringgit has been budgeted this year to implement this initiative as part of the Nusajaya Security Blueprint, he added.

"We are looking into areas of improvement such as the expansion of our CCTV coverage in the vicinity to further add value to the current security features," he said.

By 2015, the joint venture company is expected to have an estimated 160 auxiliary police officers who will be deployed in critical areas.

UEM Land, is the master developer of Nusajaya, the key driver of Iskandar Malaysia, Johor.

By Bernama

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