UEM ready to rise in Subiaco

MALAYSIA’S UEM Sunrise has been given the green light for its $450 million mixed-use residential project at The Oval, marking the first approval in the Subiaco East Masterplan and the Malaysian property developer’s first project in Perth.

With the approval granted by the Western Australian State Government’s central land and development agency DevelopmentWA, UEM Sunrise will develop the 0.49-hectare site across Lots 1 and 2 at The Oval, which it acquired in August.

The development will include tiered height of 36 and 26 storeys at Lot 1 and 11 storeys at Lot 2, for a final offering of one-, two- and three-bedroom apartments and townhouses, with a focus on intergenerational living and multi-family residences.

12% of the units will be earmarked for affordable housing for residents including essential workers.

“This project is not only about introducing our unique UEM Sunrise experience to Perth but also about supporting the local market by helping to fulfil pressing housing demands and creating a sustainable, inclusive community,” said Sufian Abdullah, CEO at UEM Sunrise.

“Through this development, we are showcasing our expertise in innovation, quality and design excellence on a global stage.”

When proposed in May, the project was targeting approximately 340 apartments and was estimated to a launch with a GDV potential of $450 million.

“The company has had a significant presence in Australia for many years and we’re delighted to be delivering this landmark project in our first venture into Western Australia bringing a combined local and global expertise in mixed-use developments to the Perth residential market to create a vibrant and connected new community in Subiaco East,” said Abdullah.

In June, UEM announced plans to sell its prized landholding in Melbourne’s Collingwood and partner with Greystar on what will become the first build-to-rent project in the suburb.

The development at The Oval will also target a 5-star Green Star rating under the new Green Star v1.0 standard.

While amenities will be community-oriented with infrastructure to support events at Heritage Gates park and storage for local football clubs at The Oval, along with 400sqm ground-floor retail space in Lot 1 and curated community spaces.

Construction on the Subiaco East development is set to commence in 2026.