LOGOS In First Malaysian JV Industrial Development to deliver RM1.5 billion Logistics Hub


19 January 2021, Malaysia – LOGOS SE Asia Pte Ltd (LOGOS) - a leading Asia Pacific logistics real estate specialist, has entered into a joint venture with a local partner to develop a sustainable integrated logistics, warehousing and e-commerce hub on three (3) pieces of land collectively measuring approximately 71 acres in Section 16, Shah Alam, Selangor. The development which will be completed in phases, will consist of a total development area of 745,000 sqm and a gross leaseable area of approximately 505,000 sqm spanning across five (5) warehouse blocks.

The joint venture transaction brokered by Knight Frank Malaysia (Knight Frank), will be by way of 60% share subscription by LOGOS into the project special purpose vehicle – Global Vision Logistics Sdn Bhd which will undertake the development. The multi-storey facility which will be one of the largest one stop logistics hub in Malaysia upon its’ completion, is designed with the flexibility to cater to multiple tenants, featuring driveway, ramps and cross-docking features to facilitate logistics efficiencies and effective traffic management.

The integrated project will also incorporate a drone landing pad, common canteen, workers dormitory, separation between pedestrian and heavy trucks movement and performance-based engineering for fire- fighting system as well as an ideal forklift travel path between dock area and the warehouse depth design.

Sarkunan Subramaniam, Managing Director of Knight Frank Malaysia, says, “We are proud to share that LOGOS’ first venture into the Malaysian industrial market is represented by the largest ever development project in terms of square footage embarked by the group across the Asia region. Upon completion, the over-5 million square feet logistic hub will be a feature asset within the group’s portfolio.

“Given LOGOS’ extensive experience in managing and developing logistics facilities across nine countries within the region, we believe their participation will bring about advance technical and operational know-how in developing high grade multi-level warehouses, elevating the Malaysian logistics property landscape to the next level.” added Sarkunan Subramaniam.

Allan Sim, Executive Director of Capital Markets, Knight Frank Malaysia, added, “Even amidst the pandemic, the investment by LOGOS into Malaysia is a strong testament and mark of confidence by international logistics players in the growth of our industrial sector. With this joint venture, LOGOS is expected to bring in a total FDI in excess of RM1billion to the state of Selangor. We are all very excited with the prospects of how this investment will spur further activities for the Klang Valley logistics market and the Malaysian economy as a whole.

“This development is timely to capture and receive the increased enquiries and attention by multinationals looking to position their regional distribution centres (RDCs) in Malaysia. With the government’s increased focus in the National Budget 2021 to position Malaysia as a global supply chain hub, coupled with MIDA’s dedicated efforts to promote new tax incentives such as the Global Trading Centre (GTC) targeted at regional distribution activities, we believe all these will be positive catalysts to attract further FDI into the country. Particularly with this development, it is strategically positioned to be part of LOGOS’ regional chain of logistics facility network, providing the added advantage for our growing logistics market to leverage and tap into LOGOS’ established pool of international big-name tenants.” added Allan Sim.

0 views0 comments

NEWS

PROPERTY

LIFESTYLE

VIDEO

NEWSLETTERS

PAID CONTENT

ADVERTISE

PRIVACY POLICY

COMMENT POLICY

TERMS OF SERVICE

CONTACT US

© 2021 Property360 Digest. All rights reserved.