PETALING JAYA: Analysts are upbeat about UEM Sunrise Bhd
’s project site at Gerbang Nusajaya, Johor, in light of its development prospects.
Following a visit to the site, RHB Investment Bank said it had a bullish view on the company, adding that further land acquisition from Ascendas Land (M) at the end of 2022 was a sign of strong upcoming demand for industrial development.
“A new data centre and factories are undergoing construction. UEM Sunrise is also converting 361 acres into an industrial zone for more immediate development, either via an outright sale or joint venture (JV).
“Its 3,000 acres of undeveloped land in the area (including the JV) is awaiting further re-rating,” the research house said in a report yesterday.
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