- Property developer Ultima United (UUL) has provided an update on its current projects and operations
- The company’s board has approved its Bentley Project for special disability accommodation development after a comprehensive feasibility study
- Ultima United recently added Jonathan Cheng to its Board of Directors to accelerate the company’s new development opportunities
- The company is also conducting discussions regarding several potential projects in countries including Australia and Japan
- At the end of last week, Ultima United closed 9.09 per cent in the green for 24 cents per share
Property developer Ultima United (UUL) has provided an update on its current projects and operations.
The company has been assessing the possibility of developing special disability accommodation (SDA) units at its Bentley property. The property, located at 19-21 Tate Street, could potentially host SDA units under the National Disability Insurance Scheme (NDIS).
Ultima’s board has now approved the Bentley Project for SDA development, after completing a comprehensive feasibility study.
As such, the company is now engaging NDIS-registered assessors, who will conduct a preliminary SDA assessment of the proposed Bentley Project units. The assessors will provide a report, containing design feedback which will ensure compliance with the necessary NDIS regulations.
Ultima has also recently added Jonathan Cheng to the company’s Board of Directors. Jonathan brings with him an extensive network and considerable industry experience, which may assist the company in accelerating its new development opportunities.
Ultima’s Managing Director and Executive Chairman, Jonathan Cheng, commented on his addition to the company’s Board of Directors.
“I am very pleased to be on UUL’s board to have the opportunity to work with the company, including all other directors, to maximise shareholder returns. Indeed, going forward, UUL will continue to deliver value to all of its shareholders. We are working hard on all existing projects and will update the market in due course,” he said.
As a property developer, Ultima is reviewing and assessing potential new sites for residential, commercial, or mixed developments. These sites are located across multiple jurisdictions, including Australia, Indonesia, and Japan.
Ultima is also currently conducting discussions regarding several potential projects, particularly in Australia and Japan.
At the end of last week, Ultima United closed 9.09 per cent in the green for 24 cents per share.