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UEM Sunrise sells Australian serviced apartments to A-HTrust

A$120m cash deal allows state-owned Malaysian developer to recoup its capital and make a profit faster

An artist's impression of the 92-storey Aurora Melbourne Central integrated project on La Trobe Street in Melbourne.

Kuala Lumpur

WELL ahead of the project's completion, UEM Sunrise Bhd has sold the serviced apartments component of its Aurora Melbourne Central mixed-use development for A$120 million (S$124 million) cash to Ascendas Hospitality Trust (A-HTrust) in a move that property consultants said...