$UEMS (5148.MY)$ UEMS currently has an accumulated opportuni...
UEMS currently has an accumulated opportunity (1.03), the 52-week price of 1.28 is expected to break through, with a target price of 1.50 ahead. The largest landowner in the special zone, good real estate sales data, the Johor Bahru Special Economic Zone, all trends of the high-speed rail are driving the stock price forward.
External bullish factors: 1) The US interest rate cut, capital flowing overseas benefiting the Malaysian stock market. 2) The Chinese stock market embarks on a bull market journey, driving the upward trend of Southeast Asian stock markets.
UEM Sunrise Berhad has announced a 100% take-up rate for its latest Iskandar Puteri project, including Aspira Hills (Phase 1), DiReka Square, and Aspira LakeHomes (Phases 4, 5, and 6), with a total gross development value (GDV) of 0.499 billion Malaysian Ringgit.
On September 21, 2024, the preview of Aspira Hills Phase 1 saw all 272 units fully booked within a day, generating a GDV of 0.198 billion Malaysian Ringgit. Buyers were attracted to the development's excellent connectivity and family-friendly features, including four bedrooms, three bathrooms, and a six-acre central park. Enthusiastic buyers queued overnight eagerly waiting to secure their units.
On September 22, the preview of DiReka Square, which includes two- and three-story shop offices in Puteri Harbour, witnessed all 67 units fully booked. This premier commercial center is located in Raman DiReka Town, with excellent connectivity to major landmarks such as Kota Iskandar, Johor Bahru Courts Complex, and Raffles American School, with a GDV of 0.158 billion Malaysian Ringgit.
The previews of Aspira LakeHomes Phases 4, 5, and 6 in July and September achieved similar success, with all 147 units sold out, contributing 0.143 billion Malaysian Ringgit in GDV. Located in Gerbang Nusajaya, this development offers spacious superlinked homes with picturesque lake views and modern facilities, making it a highly sought-after township.
Sufian Abdullah, CEO of UEM Sunrise, expressed gratitude for the strong market response, stating, "This milestone underscores UEM Sunrise's strong presence in the real estate market of Johor state and our commitment to providing sustainable, high-quality housing."
Sufian also emphasized the positive outlook for Iskandar Puteri, especially with the progress at the Johor-Singapore Economic Zone (JS-SEZ) and Gerbang Nusajaya intersection, enhancing cross-border trade and connectivity, reducing travel time to Tuas Checkpoint to just 15 minutes. He added, "With rising interest in the Iskandar Malaysia real estate market, we expect investors and homebuyers to continue to be attracted to us."
Looking ahead, UEM Sunrise remains committed to creating vibrant and sustainable communities, aligned with Malaysia's long-term growth objectives, and contributing to the development of Iskandar Puteri as a key growth center.
On September 21, 2024, the preview of Aspira Hills Phase 1 saw all 272 units fully booked within a day, generating a GDV of 0.198 billion Malaysian Ringgit. Buyers were attracted to the development's excellent connectivity and family-friendly features, including four bedrooms, three bathrooms, and a six-acre central park. Enthusiastic buyers queued overnight eagerly waiting to secure their units.
On September 22, the preview of DiReka Square, which includes two- and three-story shop offices in Puteri Harbour, witnessed all 67 units fully booked. This premier commercial center is located in Raman DiReka Town, with excellent connectivity to major landmarks such as Kota Iskandar, Johor Bahru Courts Complex, and Raffles American School, with a GDV of 0.158 billion Malaysian Ringgit.
The previews of Aspira LakeHomes Phases 4, 5, and 6 in July and September achieved similar success, with all 147 units sold out, contributing 0.143 billion Malaysian Ringgit in GDV. Located in Gerbang Nusajaya, this development offers spacious superlinked homes with picturesque lake views and modern facilities, making it a highly sought-after township.
Sufian Abdullah, CEO of UEM Sunrise, expressed gratitude for the strong market response, stating, "This milestone underscores UEM Sunrise's strong presence in the real estate market of Johor state and our commitment to providing sustainable, high-quality housing."
Sufian also emphasized the positive outlook for Iskandar Puteri, especially with the progress at the Johor-Singapore Economic Zone (JS-SEZ) and Gerbang Nusajaya intersection, enhancing cross-border trade and connectivity, reducing travel time to Tuas Checkpoint to just 15 minutes. He added, "With rising interest in the Iskandar Malaysia real estate market, we expect investors and homebuyers to continue to be attracted to us."
Looking ahead, UEM Sunrise remains committed to creating vibrant and sustainable communities, aligned with Malaysia's long-term growth objectives, and contributing to the development of Iskandar Puteri as a key growth center.
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丰衣足食 OP : Move forward
Christopher said that, in addition to these two development projects, developers are also involved in several other projects in Permas Jaya. They include the redevelopment of the existing aeon stores shopping center, as well as the development of several new residential and commercial projects.
In the 111-acre Emerald Bay in Puteri Harbour, developers plan to kick off another phase of bungalows after some recently completed homes have been taken up. Emerald Bay is a 60:40 joint venture between BRDB and UEM Sunrise Bhd (KL: UEMS), offering upscale resort-style courtyard residences, semi-detached villas, and beachfront bungalows.
Regarding the market outlook for Johor in the coming months, Christopher explained, "I think whatever good announcement there is, it bodes well for Johor. For us as urban developers, the abundance of announcements and activities in the first half of this year due to spillover effects is a good sign for us, and the beneficiaries of all these will be urban developers.
"We believe that the RTS Link and infrastructure will be helpful because when there is capital inflow into the country, it will provide funds for infrastructure development. Therefore, in a few years, Johor Bahru will become a more modern and vibrant city."