KUALA LUMPUR: UEM Sunrise Bhd is selling 169.8 acres of industrial plots in Iskandar Puteri to AME Elite Consortium Bhd’s subsidiaries for RM434.30mil under a proposed strategic collaboration between the two companies.

UEM Sunrise said on Wednesday it had signed several definitive agreements for the sale of 72 freehold industrial plots in Phase 3 of Southern Industrial & Logistics Clusters (SiLC). The agreements were signed with Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd.

UEM Sunrise chief officer, performance delivery and commercial, Anuar Kasim said the sale would be the start of a strategic collaboration between UEM Sunrise, the landowner and master developer of Iskandar Puteri and AME.

AME constructs customised large manufacturing plants and, design-and-build and development of industrial parks.

“We are confident that this collaboration with AME will be another catalyst for the Iskandar Puteri Development Masterplan, particularly in accelerating the growth and development of SiLC.

“This will have a positive impact on the rapidly growing township of Iskandar Puteri, enhancing its livable qualities for the surrounding communities, ” Anuar said.

The deal will also create new business and employment opportunities in the region, he said. UEM Sunrise also expects it to promote a conducive economic environment to spur demand for UEM Sunrise’s southern property products.

UEM Sunrise expects the sale to steadily contribute to the group’s earnings over the next three to four years with proceeds to be channelled towards the company’s strategic initiatives including new landbanking opportunities.

Among the catalytic developments under the Iskandar Puteri Development Masterplan is the development of integrated industrial parks, of which SiLC forms an essential component.

UEM Sunrise pointed out with Phases 1 and 2 of SiLC sold out, the collaboration with AME will enable the roll out of Phase 3 more rapidly as UEM Sunrise will be dealing with an industrial park specialist, rather than several plot buyers.

According to the announcement, AME has given its commitment to acquire the balance of industrial plots in SiLC Phase 3.