【Property News】UEM Land bought Taman Connaught land near MRT

UEM Land and Accolade Land signed a sale and purchase agreement to acquire 6.86 acres of land in Taman Connaught, Kuala Lumpur for RM197 million.

Those who live in Mont Kiara should be familiar with UEM. There are countless apartments developed by UEM, such as: Residence 22 Mont, Arcoris Residences, 28 Mont Kiara, Mont Kiara Pelangi, etc.

UEM will develop the 6.86 acres of land in the Cheras area. It plans to carry out a public transportation-oriented development (TOD) on this land. The gross development value (GDV) is estimated to be 1 billion ringgit because it is close to the Connaught Garden MRT station (MRT).

The project is scheduled to be carried out in two phases. The first phase will start in the second half of 2022.

Speaking of UEM, a company controlled by the government consortium Khazanah, in October 2020, proposed to announce the merger with ECOWLD, but the merger failed in January 2021.

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