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UEM Land in talks on Puteri Harbour project

KOTA KINABALU: UEM Land Bhd is in talks with three foreign parties to develop its flagship residential component Puteri Harbour within Bandar Nusajaya in southern Johor.

Managing director Wan Abdullah Wan Ibrahim said the parties were from Australia, India and the US.

“They are interested in participating in the development of Puteri Harbour,” he told reporters at the sidelines of the CEO international conference.

“It will take some time before we can announce anything. The early indications are that they are very interested. Perhaps, we can announce something by the end of the third quarter,” he said.

Puteri Harbour is a 688-acre mixed development component within Bandar Nusajaya.

The involvement of the foreign parties would enable UEM Land to leverage on their networks and reach to showcase the projects overseas, Wan Abdullah said.

UEM Land has to date signed two joint ventures for the development of Puteri Harbour. The first was with Limitless LLC to develop a RM1.6bil project comprising canal homes and condominiums on 111 acres.

The second was with Damac Properties LLC to develop a RM3.8bil project comprising offices and condominiums on 43 acres.

UEM Land has lunched three residential projects in Bandar Nusajaya in the past 2½ years. Nusa Idaman comprises medium-cost homes while Horizon Hills is a gated 1,200-acre joint venture property project and East Ledang comprises landed properties.
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