Nusajaya Tech Park is an industrial park which houses a variety of corporations.

KUALA LUMPUR: Property developer UEM Sunrise Bhd’s subsidiary Nusajaya Rise Sdn Bhd recently entered into sale and purchase agreements with Nusajaya Tech Park Sdn Bhd (NTPSB) for the expansion of its new industrial phases.

The sale of land was an estimated 234.5 acres in Gerbang Nusajaya, Iskandar Puteri for RM289.2mil. The agreement involves an expansion of CapitaLand’s Nusajaya Tech Park to 371 acres, which is to be developed over a timeframe of eight to ten years. 

UEM Sunrise has a history of collaboration with CapitaLand, having partnered with it since 2012 during its development in Iskandar Puteri.

“CapitaLand had the expertise and track record which complemented our requirements. Nusajaya Tech Park that is in operation today is a testimony to the successful collaboration. Its existence has contributed a significant impact to Gerbang Nusajaya and Iskandar Puteri as a whole,” UEM Sunrise chief executive officer Sufian Abdullah said.

“We are positive that the expansion of new industrial phases in Nusajaya Tech Park will further stimulate economic activity, attract investors, and allow more companies to relocate to Iskandar Puteri. It will also further strengthen our commitment to attract foreign direct investments into Johor, in line with the State Government’s aspirations to feature Johor as the desired destination hub for investments and development. This, in turn, will create further employment opportunities in the Southern region,” he added.

UEM Sunrise’s press release stated that the collaboration is part of the company’s three-pronged turnaround strategic plan to navigate current market conditions, strengthen its product portfolio and streamline core businesses.

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