UOA Group

UOA Group is a property development and investment group whose business is based mainly in Malaysia. Its activities have included the development, construction, ownership and management of commercial and residential real estate, as well as property investment through a real estate investment trust. The group is associated with United Overseas Australia Ltd, an Australian-incorporated parent listed on the Australian Securities Exchange and the Singapore Exchange, while its main Malaysian development arm, UOA Development Bhd, is listed on Bursa Malaysia. The group was founded in 1987 by Malaysian engineers Kong Chong Soon and Kong Pak Lim. Before establishing UOA, the two founders had construction-industry experience in Singapore and Australia respectively. UOA moved its headquarters to Kuala Lumpur in 1989 and subsequently concentrated most of its operations in Malaysia. During its early expansion, the group completed mainly small- and medium-sized residential and commercial projects. By the late 2000s, its completed developments had an aggregate gross development value of more than RM3 billion, according to the referenced company history. UOA's best-known project is Bangsar South, a large mixed-use urban district in the Klang Valley. Work began in 2007 on a roughly 60-acre site in the Kerinchi area of Kuala Lumpur that had previously been occupied by a squatter settlement. The development was planned as an integrated precinct rather than as a single building, combining offices, residences, hotels, retail and supporting amenities. Its first phase was completed in 2011, and the district later incorporated a conference centre and multiple commercial and residential buildings. Bangsar South became the group's principal flagship and a major example of its strategy of creating large, master-planned urban communities in established metropolitan areas. The group also expanded its investment-property platform through UOA Real Estate Investment Trust, established and listed in 2005. Assets transferred into the REIT included parcels of UOA Damansara in Bukit Damansara, UOA Center in Kuala Lumpur City Centre and UOA Pantai in Lembah Pantai. Tower B of Menara UOA Bangsar, completed by the group in 2008, was subsequently added to the portfolio. UOA remained the REIT's majority unitholder and managed the trust through UOA Asset Management Sdn Bhd, linking the group's development activities with recurring property-investment and asset-management operations. UOA Development Bhd, the group's principal Malaysian property-development vehicle, was listed on Bursa Malaysia in 2011. In 2017, UOA made its first identified move into Australia by investing in development sites in East Perth and Leederville in Western Australia. Despite this step into an additional market, Malaysia remained the centre of the group's development and investment activity. Its positioning is therefore best understood as that of an integrated property group focused on urban residential, commercial and mixed-use developments, supported by investment properties and real estate investment management.

UOA Group was established in 1987 by Malaysian engineers Kong Chong Soon and Kong Pak Lim. The founders had prior construction experience connected with Singapore and Australia, and their initial business developed from this construction background. In 1989, the group moved its headquarters to Kuala Lumpur and directed its principal operating focus toward Malaysia. During its early years, UOA worked on relatively small and medium-sized commercial and residential projects. The group gradually expanded its development portfolio across the Klang Valley, the metropolitan area surrounding Kuala Lumpur. By the late 2000s, it had completed projects with an aggregate gross development value exceeding RM3 billion, according to the referenced account of the group's history. A significant structural development occurred in 2005, when UOA transferred several investment properties into UOA Real Estate Investment Trust and listed the REIT on Bursa Malaysia. The initial portfolio included properties or property parcels associated with UOA Damansara in Bukit Damansara, UOA Center in Kuala Lumpur City Centre and UOA Pantai in Lembah Pantai. UOA later added Tower B of Menara UOA Bangsar, completed in 2008. The group remained the majority unitholder and managed the REIT through UOA Asset Management Sdn Bhd. This created a continuing link between UOA's property-development pipeline and an income-producing investment-property platform. In 2007, UOA began work on Bangsar South, its most prominent development. The approximately 60-acre site was located in Kuala Lumpur's Kerinchi area and had previously been a squatter settlement. Rather than treating the site as a single-purpose project, UOA developed it as a mixed-use district containing residential and commercial buildings, hotels and a conference centre. The first phase was completed in 2011. Bangsar South subsequently became the clearest expression of UOA's urban-development model and the group's most recognizable project. UOA's Malaysian development business was further institutionalized when UOA Development Bhd was listed on Bursa Malaysia in 2011. The broader group is associated with United Overseas Australia Ltd, an Australian-incorporated parent whose securities are listed on the Australian Securities Exchange and the Singapore Exchange. The corporate structure has therefore combined Malaysian operating activities with listed entities in several markets. In 2017, UOA expanded beyond its established Malaysian base by investing in development sites in East Perth and Leederville in Western Australia. This represented the group's first identified entry into the Australian property-development market. Malaysia nevertheless remained the centre of UOA's operating activity and project portfolio. Across its history, the group has combined property development and construction with ownership of investment properties, REIT participation and asset management. Its principal identity is that of a Malaysia-focused urban property group, with Bangsar South serving as its flagship mixed-use development and the UOA REIT providing an investment-property component.

• 2017

  Entry into Western Australia

  [1]UOA Groupen.wikipedia.org

  UOA invested in development sites in East Perth and Leederville, marking its first identified Australian expansion.

• 2011

  Bangsar South first phase completed

  [1]UOA Groupen.wikipedia.org

  The first phase of the group's flagship mixed-use district reached completion.

• 2011

  UOA Development Bhd listed

  [1]UOA Groupen.wikipedia.org

  The group's principal Malaysian property-development arm was listed on Bursa Malaysia.

• 2008

  Menara UOA Bangsar Tower B completed

  [1]UOA Groupen.wikipedia.org

  Tower B of Menara UOA Bangsar was completed and later added to the UOA REIT portfolio.

• 2007

  Bangsar South development commenced

  [1]UOA Groupen.wikipedia.org

  UOA started work on its approximately 60-acre mixed-use Bangsar South project in Kuala Lumpur.

• 2005

  UOA REIT listed

  [1]UOA Groupen.wikipedia.org

  UOA transferred selected investment properties into UOA Real Estate Investment Trust, which was listed on Bursa Malaysia.

• 1989

  Headquarters moved to Kuala Lumpur

  [1]UOA Groupen.wikipedia.org

  The group moved its headquarters to Kuala Lumpur and focused its operations mainly on Malaysia.

• 1987

  UOA Group founded

  [1]UOA Groupen.wikipedia.org

  Malaysian engineers Kong Chong Soon and Kong Pak Lim founded UOA.

An integrated property developer and investor focused primarily on master-planned urban, residential and commercial real estate in Malaysia, with additional investment activity in Australia.

• Mixed-use urban development · 2007

  Bangsar South

  Bangsar South is UOA Group's flagship mixed-use development in Kuala Lumpur. Work began in 2007 on an approximately 60-acre site in the Kerinchi area, formerly associated with a squatter settlement. The project was developed as an integrated district containing residential and commercial buildings, hotels and a conference centre. Its first phase was completed in 2011, and the development became the group's most prominent example of large-scale urban regeneration and master planning.

• Real estate investment trust · 2005

  UOA Real Estate Investment Trust

  UOA REIT is the group's listed investment-property vehicle, established through the transfer of selected UOA properties and listed on Bursa Malaysia in 2005. Its referenced portfolio includes parcels of UOA Damansara, UOA Center and UOA Pantai, with Tower B of Menara UOA Bangsar added later. UOA remained the majority unitholder and managed the trust through UOA Asset Management Sdn Bhd.

• Commercial property · 2008

  Menara UOA Bangsar

  Menara UOA Bangsar is a commercial property development associated with UOA in Kuala Lumpur. Tower B was completed in 2008 and subsequently became part of the UOA REIT portfolio, illustrating the group's practice of developing properties that can later support its investment-property platform.

• Residential and commercial property

  UOA Development Bhd projects

  UOA Development Bhd is the group's main Malaysian property-development arm. Its activities have covered residential and commercial developments across the Klang Valley, ranging from smaller projects during the group's earlier years to larger integrated districts such as Bangsar South.

• 2017

  Expand into Western AustraliaStrategy

  Background

  UOA had historically concentrated its operating activity in Malaysia.

  Action taken

  The group invested in development sites in East Perth and Leederville, Western Australia.

  Aftermath

  The move represented UOA's first identified entry into the Australian property-development market.

  Source

• 2007

  Develop Bangsar South as a master-planned districtStrategy

  Background

  UOA controlled an approximately 60-acre site in Kuala Lumpur's Kerinchi area.

  Action taken

  The group commenced a mixed-use development combining residential, commercial, hotel and conference facilities.

  Aftermath

  The first phase was completed in 2011, and Bangsar South became UOA's flagship development.

  Source

• 2005

  Create a listed investment-property platformStrategy

  Background

  UOA held a portfolio of investment properties alongside its development activities.

  Action taken

  The group transferred selected properties into UOA Real Estate Investment Trust and listed the REIT on Bursa Malaysia.

  Aftermath

  The structure gave UOA a listed real estate investment vehicle and it retained majority ownership and management responsibilities.

  Source

1. 1UOA Groupen.wikipedia.org