UEM Sunrise's RM1.17b MAIA Mont'Kiara is 60% taken up

UEM Sunrise Bhd officially launched MAIA Mont'Kiara in Kuala Lumpur on 10 November, a luxury condominium with a gross development value of RM1.17 billion on 5.02 acres of freehold land at Jalan Bayu Kiara. 60% of the 495 units have been taken up since a soft launch in late August, The Edge reported.

The project

• Size: 495 units in two 45-storey towers, six units a floor, in seven layouts of 1,485 to 2,982 sq ft. The two largest types have a private lift lobby
• Prices: from RM1.54 million, The Edge reported. The sales permit printed in UEM Sunrise's brochure lists Block A at RM2.27 million to RM3.56 million and Block B at RM1.84 million to RM3.87 million
• Site: raised ground beside the 400-acre Bukit Kiara forest reserve. About 42% of the site goes to landscaping and facilities, including a full-size tennis court
• Developer: Laser Tower Sdn Bhd, a UEM Sunrise subsidiary. The brochure lists no restriction in interest and no encumbrance on the land
• Completion: first half of 2031. The design holds a GreenRE Provisional Gold rating

Selling ahead of plan

• August: while members of UEM Sunrise's Tresor loyalty programme were previewing it, about 30% was taken up. Chief marketing officer Emily Teh said the aim was 50% by the end of 2026
• 10 November: at the official launch it stood at 60%, already past that year-end target
• Next door: UEM Sunrise's The MINH, launched in 2023 with 496 units on 6.2 acres and a GDV of RM979 million, is fully sold. Completion is due in the second half of 2027

The numbers per acre (our calculation)

• MAIA: about RM232 million of sales value per acre of land, or about RM5,340 per sq ft of land. That is about 99 homes per acre, averaging about RM2.36 million each
• The MINH: about RM158 million per acre, 80 homes per acre, averaging about RM1.97 million each
• The gap: MAIA carries about 47% more sales value per acre than its neighbour, launched three years earlier
• Land nearby: Sunway Living Space agreed to pay YNH Property RM170 million for 5.1 acres in Desa Sri Hartamas, about RM766 per sq ft (our report). The land cost for MAIA itself has not been made public

What is left in Mont'Kiara

Teh said in August that UEM Sunrise still has a few pockets of land around Mont'Kiara but is in no hurry to launch them, to give the market time to absorb what is already on sale. Meanwhile it is aiming to soft-launch, before the end of 2026, the first phase (homes) on the former Dutch Lady land in Section 13, Petaling Jaya, 9.93 acres it bought in 2021 for RM200 million.