Johor State Election
2026
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PETALING JAYA: UEM Sunrise Bhd has secured an investor for its A$315.4 million (RM903.3 million) build-to-rent (BTR) 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 recently held in Melbourne by senior representatives from UEM Sunrise and Kio.
UEM Sunrise managing director and CEO 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 global 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.”
The 0.54ha site at 21-53 Hoddle Street, located just 3.5km 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.
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.
He added, “We continue to see compelling opportunities to partner with experienced parties to deliver high-quality rental housing in supply-constrained urban markets. 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.”
Early construction works for the Collingwood BTR project are expected to commence towards the end of 2026, with completion targeted for 2030.
UEM Sunrise has an established presence in Australia spanning over a decade with high-rise developments such as Aurora Melbourne Central and Conservatory, a project overlooking the Unesco World Heritage-listed Carlton Gardens. Together, these projects have delivered over 1,600 residential units in the city.
Broadening its international footprint across key Australian cities, the company expanded into Perth, unveiling One Oval in Subiaco in 2025. One Oval is a 342-unit development and a key component of the Subi East revitalisation plan led by DevelopmentWA, the Western Australian Government’s urban renewal agency.
