UEM Sunrise locks in capital partner for A$315 mil Melbourne build-to-rent project

PETALING JAYA (June 16): UEM Sunrise Bhd has secured an institutional investor for its A$315.4 million (approximately RM903.3 million) build-to-rent development in Collingwood, Melbourne, formalising a partnership with Australian living-sector specialist Kio Investment Management (Kio) at a signing ceremony in Melbourne earlier today.

Under the arrangement, UEM Sunrise will act as developer and delivery partner through its wholly owned subsidiary, UEM Sunrise (Collingwood Development) Pty Ltd. Kio Investment Management will serve as investor and owner-operator, holding and managing the completed asset on a long-term basis.

Kio is a joint venture between US private equity firm Warburg Pincus and Sam Bisla, who founded and leads the platform.

The project site sits on 0.54 ha at 21–53 Hoddle Street, Collingwood — an inner-city suburb located 3.5km from Melbourne's central business district. The development will comprise two buildings offering a mix of studio, one-, two- and three-bedroom apartments, with more than 400 homes.

The scheme also includes a public town square with food and beverage outlets, retail spaces, essential services and landscaped greenery.

Early construction works are expected to begin towards the end of 2026, with completion targeted for 2030.

UEM Sunrise managing director and chief executive Shaharul Farez Hassan said: "The Collingwood project is a key part of our growth strategy in Australia and reflects our continued commitment to expanding our international development portfolio.

“With our established track record in Melbourne, we are well-positioned to deliver housing in a well-connected urban location. This project also reflects our disciplined approach to partnering as we continue building our presence in Australia's growing build-to-rent sector."

Kio founder and managing director Sam Bisla said: "We see strong long-term fundamentals for institutional rental housing in Australia and are focused on well-connected inner-city locations such as Collingwood.

“This project aligns with Kio's strategy of building a leading institutional living platform across Australia's key gateway cities, underpinned by long-term ownership, operational excellence and resident-focused communities.

“Collingwood represents the type of well-located, large-scale project that strongly aligns with our long-term vision for the sector, and we are pleased to partner with UEM Sunrise to help expand professionally managed housing supply in Melbourne."

UEM Sunrise has operated in Australia for over a decade, delivering more than 1,600 residential units across two completed Melbourne high-rise projects — Aurora Melbourne Central and Conservatory, the latter overlooking the UNESCO World Heritage-listed Carlton Gardens.

In 2025, the company expanded into Perth with One Oval in Subiaco — a 342-unit development forming part of the Subi East revitalisation plan led by DevelopmentWA, the Western Australian government's urban renewal agency.

In Malaysia, UEM Sunrise is the flagship property development arm of UEM Group Bhd, with core competencies spanning township, high-rise residential, commercial, retail and integrated developments.

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