PETALING JAYA: UEM Sunrise Bhd

has maintained its full-year sales target of RM1.3bil despite exceeding it by 13% in the first half ended June 30, 2026 (1H26), with unbilled sales providing further upside.

In a filing with Bursa Malaysia, the property developer said sales for 1H26 rose 126% to RM1.47bil from RM649.3mil in 1H25.

The increase was mainly driven by its built-to-rent development in Collingwood, Australia, as well as projects in the southern and central regions of Malaysia.

“As at June 30, 2026, the group’s unbilled sales stood at RM2.9bil, which are expected to be progressively recognised over the next 48 months,” it said.

For the second quarter ended June 30, 2026 (2Q26), UEM Sunrise’s revenue rose 36.9% to RM605.71mil from RM442.42mil a year earlier, while net profit more than doubled to RM46.85mil from RM22.41mil.

The higher quarterly earnings were also supported by the divestment of non-strategic land in Iskandar Puteri, Johor, and a stronger share of results from joint ventures and associates, which rose to RM38.9mil from RM10.99mil in 2Q25.

For 1H26, revenue increased 10.9% to RM953.42mil from RM860.05mil, while net profit rose 47% to RM63.05mil from RM42.9mil, supported by higher progress billings and improved margins.