UEM Sunrise Berhad has secured an investor for its AUD315.4 million (RM903.3 million) build-to-rent project in Collingwood, Melbourne via its wholly-owned subsidiary, UEM Sunrise (Collingwood Development) Pty Ltd.
This marks a key step forward in progressing the development that will deliver over 400 new homes in one of the city’s most supply-constrained rental markets. The development will be backed by Australian living-sector specialist Kio Investment Management, a joint venture between US private equity firm, Warburg Pincus, and long-term Australia industry specialist, Sam Bisla. UEM Sunrise will serve as the developer and delivery partner, while Kio will be the investor and owner-operator.
The partnership was formalised at a signing ceremony held in Melbourne by senior representatives from UEM Sunrise and Kio.
The 0.54-hectare site at 21-53 Hoddle Street, located just 3.5 kilometres from Melbourne’s Central Business District, will feature two buildings comprising a mix of studio, one-, two- and three-bedroom apartments. The development will also include a public town square with food and beverage offerings, retail spaces, essential services and landscaped greenery.
Early construction works for the Collingwood BTR project are expected to commence towards the end of 2026, with completion targeted for 2030.
