UEM Sunrise Bhd has gained an investor for its A$315.4 million (RM903.3 million) build-to-rent development in Melbourne, Australia. The project is being undertaken through UEM Sunrise’s subsidiary, UEM Sunrise (Collingwood Development) Pty Ltd. This investment signifies confidence in the Australian rental market and UEM Sunrise’s project viability. Details of the investor were not disclosed in the announcement. The build-to-rent sector is gaining traction globally, offering a stable income stream for investors and addressing housing demand. This development will add to Melbourne’s housing supply, specifically catering to the rental market. The project represents a significant foreign investment in the Australian property sector.