Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, August 21 2020 - 19:17
AsiaNet
UUL's Board of Directors Approves Bentley Land for Special Disability Accommodation Development, Future Projects Abound
PERTH, Australia, Aug. 21, 2020 /PRNewswire-AsiaNet/ --

Ultima United Limited (ASX: UUL) (the "Company") is pleased to provide a market 
update.

Logo-https://photos.prnasia.com/prnh/20200819/2889595-1logo

Bentley Project

The Company continues to assess the viability of developing Special Disability 
Accommodation ("SDA") units under the National Disability Insurance Scheme 
("NDIS") for the Company's property at 19 – 21 Tate Street Bentley.

After a comprehensive feasibility study, the Company's board of directors (the 
"Board") has approved the Bentley Project for SDA development. The Company is 
now actively engaging NDIS registered assessors to carry out a preliminary 
special disability accommodation assessment to the units proposed at the 
Bentley Project and to provide a report detailing design feedback for 
compliance with necessary NDIS regulations.

New Projects and Outlook

The Company, as a property developer, is constantly reviewing and assessing 
potential new sites to pursue either residential, commercial or mixed 
developments in multiple jurisdictions including Australia, Indonesia and 
Japan. With Mr Jonathan Cheng's addition to the Board, the Company expects 
itself to leverage off his extensive network and experience and accelerate its 
pursuit for new development opportunities.

The Company is in high level discussions in relation to several potential 
projects in various countries, including Australia and Japan. There is no 
assurance that these projects will eventuate for the Company. The Company will 
make further announcements if and when binding agreements are reached.

Managing Director and Executive Chairman Mr Cheng states:

"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."

Source Ultima United Limited