The JV company Baywood Avenue Sdn Bhd, will develop three lots of freehold commercial land with an estimated gross development value of RM1 billion measuring in Bukit Jelutong township.

During the signing ceremony, Dato’ Tunku Putra Badlishah, managing director of Sime Darby Property Berhad said, “We are always looking at ways to accelerate the development of our landbank and partnering with reputable, like-minded developer like Sunrise Berhad, which is a leader in high-rise and commercial development in the country with projects like Solaris Dutamas, Solaris Mont’Kiara, Plaza Mont’Kiara and other award-winning high-rise residential projects.”

He added that the strategic partnership will help unlock the value of Sime Darby property’s landbank and create a commercial hub within the township of Bukit Jelutong.

Datuk Tong Kooi Ong, executive chairman of Sunrise Berhad said that besides a unique offering of commercial spaces for work and leisure as well as dream homes, the mixed commercial development will play an important role in fulfilling the demand for a quality and centralised activity node currently absent in Bukit Jelutong.

The JV project will have a gross built-up area of approximately 2.7 million sq ft, consisting of retail, shop-offices, office suites and serviced apartments. It will be developed in five phases with its launch targeted in 2011.