Press Release – KIARA BAY – UEM SUNRISE’S LATEST FLAGSHIP DEVELOPMENT UNVEILED
UEM Sunrise Berhad (“UEM Sunrise”), one of Malaysia’s leading property developers has unveiled its latest flagship development – Kiara Bay. An integrated township built on the urban liveability concept, Kiara Bay is a 73-acre mixed development consisting of residential units and commercial spaces with a total GDV of RM15 billion. The first phase of Kiara Bay is targeted to be completed by the fourth quarter of 2023.
KUALA LUMPUR, 24 OCTOBER 2019 – UEM Sunrise Berhad (“UEM Sunrise”), one of Malaysia’s leading property developers, today unveiled the masterplan of its latest flagship development, Kiara Bay, which will be located in the heart of Kepong.
Kiara Bay is an integrated township that offers an elevated living by the waterfront given its proximity to Kepong Metropolitan Park. This township leverages the lake, nature and active lifestyle with the convenience and connectivity of a vibrant urban environment to create enjoyable and effortless living.
UEM Sunrise is introducing the urban liveability concept in Kiara Bay’s design whereby there will be diversity in the usage of space – from retail to outdoor parks – as they complement one another to create a vibrant atmosphere for the communities in the self-sustaining township. Through this concept, they also aspire to develop close-knit societies within Kiara Bay by generating the buzz in town through community events, festivals, and celebrations.
“Our focus with this urban liveability concept which will be the core of everything we do at Kiara Bay is to create an active urban living icon that has something to offer everyone in our multi-generational communities,” said Anwar Syahrin Abdul Ajib, Managing Director/ Chief Executive Officer of UEM Sunrise. “At UEM Sunrise, we aim to build more than just structures and buildings, but communities and an inclusive environment for them to identify with. Mont’Kiara is our testament to this vision, and so will Kiara Bay.”
This mixed development project will be built together with joint-venture partners, Melati Ehsan Group. “We are excited to be on this journey with UEM Sunrise to create something new in Kepong. Combined with the way this master plan is detailed and the character that it embodies, Kiara Bay will become the industry’s benchmark of urban township,” said Tan Sri Dato’ Yap Suan Chee, Melati Ehsan Holdings Berhad Group Chairman.
According to the master plan that was unveiled, Kiara Bay will consist of residential units, retail mall, office spaces, hotels, healthcare centres and education hubs will span across 73 acres of prime leasehold land in Kepong, with a total master township Gross Development Value (GDV) of RM15 billion.
The first phase of this project consists of 870 residential units with built-up areas ranging from 800 to 1,250 sq ft priced between RM600,000 to RM900,000. Included in this phase are other amenities and facilities such as swimming pools, gym, sky deck, and more. The estimated completion date of the first plot is targeted for the fourth quarter of 2023, while the township in its entirety in 2039.
In terms of accessibility, Kiara Bay would be accessible via several highways and mainroads such as the Middle Ring Road 2 (MRR2), Lebuhraya Damansara-Puchong (LDP), Duta Ulu Klang Expressway, Jalan Kuching, and Jalan Kepong. There will be two new interchanges that will provide direct access from MRR2 into Kiara Bay.
Two MRT 2 stations – Kepong Baru and Jinjang – which are scheduled to be operational by 2021 will be the closest MRT points to Kiara Bay.
“This 15 to 20-year regeneration project would allow integrated master-planning with a diverse range of product types, amenities and community services like Auxiliary Police and shuttle busses to the nearest MRT station,” said Anwar.
“Leveraging our experience and success in developing Mont’Kiara and our JV partner Melati Ehsan’s track record in construction management, we want to create the same value with Kiara Bay so that homebuyers and investors can enjoy capital growth in their assets.”
He added that in comparison to pocket-sized developments, Kiara Bay’s all-encompassing masterplan will create more communities and commercial activities which would translate to more positive impact on Kepong economically and socially.
— end of press release —
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