KUALA LUMPUR: One of Malaysia's leading property developers, UEM Sunrise Bhd, marked its maiden venture into the Australian market by acquiring two prime freehold land parcels in Melbourne, Australia.

Managing Director/Chief Executive Officer Datuk Wan Abdullah Wan Ibrahim said the Australian market is one of the key countries under its strategic regional expansion plan.

These land parcels -- covering 3,197 sq. m. on LaTrobe Street and about 2,030 sq. m. on Mackenzie Street -- are in two of the city's hotspots, and have existing commercial tenancies.
They will be redeveloped as premium residential developments with a retail component, infused with arts and culture to achieve a vibrant and edgy mixed-use community within the developments.

Ensuring that the most remarkable designs can be attained for both projects, the company has shortlisted three renowned Australia-based architectural firms for an invited design competition, namely COX Architectural, Elenberg Fraser and Fender Katsalidis Architects.

"We aspire to create projects that are valuable additions to the city skyline and which showcase our ability to deliver quality and unique offerings and products," Wan Abdullah said in a statement today. -- BERNAMA