Week 44 - 2024
PINTARAS JAYA BUYS 33 ACRES OF AGRICULTURAL LAND IN KAPAR FOR RM22.9 MILLION
The Edge, 29/10/2024
Construction firm Pintaras Jaya Bhd is acquiring 11 pieces of freehold land land totalling 33 acres in Kapar for RM22.9 million cash. The property, which is an oil palm plantation, is currently categorised as agricultural land but is zoned for residential development.
SP SETIA LAUNCHES ANGGUN VILLA III
The Star, 29/10/2024
SP Setia has launched Anggun Villa III, the latest of the Anggun Villa series located in Bandar Kinrara, Puchong. The development comprises 30 units of modern, double-storey semi-detached homes with a gross development value (GDV) of RM105.17 million. Featuring built-up of 3,951 sq. ft., with land areas from 4,058 sq. ft. to 6,078 sq. ft.; Anggun Villa III are priced from RM3.38 million to RM3.71 million for Type A, and RM3.39 million to RM3.89 million for Type A(M). The development is located nearby Kinrara Golf Club, Kinrara Resort and Bukit Jalil Recreation Park, Bukit Jalil National Stadium, Sunway Lagoon and Bukit Jalil Golf and Country Resort, Subang Jaya Medical Centre, Sunway Medical Centre and Columbia Asia Hospital. Bandar Kinrara is accessible via major highways such as the Bukit Jalil Highway, Shah Alam Expressway (KESAS), Lebuhraya Damansara-Puchong (LDP), North – South Expressway (NSE) and Maju Expressway (MEX), as well as by the light rail transit at Kinrara BK5 LRT Station.
PARKWOOD BUYS 32-ACRE LAND IN RAWANG FOR LANDED RESIDENTIAL DEVELOPMENT
The Edge, 01/11/2024
Parkwood Holdings Bhd via its wholly owned subsidiary Parkwood Templers Sdn Bhd, has acquired five parcels of freehold land in Rawang, totalling 32.3 acres for RM30.9 million. Parkwood plans to develop the land into a contemporary landed residential enclave. The development is expected to be launched by 3Q26.
PADINI ANNOUNCES RETAIL REVAMP PLANS IN MALAYSIA, THAILAND FOR FY2025
The Edge, 26/10/2024
Padini Holdings Bhd announced plans to refurbish nine stores, open four new outlets, and close one location in Malaysia in the current financial year ending June 30, 2025 (FY2025) as part of efforts to streamline its retail operations. The fashion retailer will also close one of its seven stores in Thailand as part of its overseas market strategy. The group operates its largest market in Malaysia with over 140 stores nationwide, where inflation concerns persist amid plans to cut subsidies for RON95 petrol from the middle of next year, following a similar implementation with diesel back in June. Elsewhere, Padini also operates six stores in Cambodia, and has 19 franchise locations worldwide in markets including Brunei, Bahrain, Oman, Qatar, and the United Arab Emirates. In addition, Padini plans to establish logistics hubs in East Malaysia as well as in the southern and northern regions to improve the efficiency of stock movement and logistics across both East Malaysia and Peninsular Malaysia. A warehouse which costs RM5 million in the southern region had been purchased subsequent to the financial year end (FY2024). This development is anticipated between FY2025 and FY2029. While the group remains focused on its brick-and-mortar operations, it said it has dedicated significant efforts to expanding its online business. This includes enhancing product awareness across its online channels and upgrading the infrastructure for e-commerce. Its brands — such as Seed, Miki, Vincci, Padini Authentics, and BO Accessories are also available online through its e-commerce platforms in Malaysia and Singapore.
IOI PROPERTIES UNVEILS RM12 BILLION IOI RIO CITY INTEGRATED DEVELOPMENT AT BANDAR PUTERI PUCHONG
The Edge, 29/10/2024
IOI Properties Group Bhd has unveiled the 100-acre integrated development IOI Rio City located within its Bandar Puteri Puchong township in Puchong, Selangor. The developer has also unveiled IOI Mall Rio, a new shopping mall at IOI Rio City that will have 1,000,000 sq. ft. of net lettable area and over 300 retail units. With a total gross development value of RM12 billion and a 12-year development period, IOI Rio City will have residential, office and retail components as well as an existing 10.93 acre urban park. A total of 1,600 residential and commercial units will be developed within the first five years of IOI Rio City's development. As for IOI Mall Rio, the mall will offer a tenant mix of food and beverage, lifestyle, fashion, electronics, and entertainment brands, conveniences, a convention centre and a sports hall. Construction works for the mall will start mid 2026 and it is expected to open in 2030. IOI Properties had previously launched the first phase of the masterplan, 7.9-acre IOI Rio, back in 2020. IOI Rio comprises offices (2Rio Office Park and 2Rio Tower), a serviced apartment (2Rio Residence) and retail shops (2Rio XChange). The office and retail components were launched in 2020 and completed in 2021 whereas the serviced apartment was launched in early 2024 and slated to complete in 2025.
RESINTECH BUYS INDUSTRIAL LAND FOR EXPANSION
The Edge, 26/10/2024
Pipes and fittings maker Resintech Bhd has proposed the acquisition of a 46,069 sq. ft. piece of leasehold industrial land in Telok Panglima Garang, Selangor to support future expansion. The property includes a semi-detached factory and a three-storey office building, from a scrap metal trading firm, Sri Pushpam Recycling Sdn Bhd, for RM11 million. The property will provide the company additional production and warehouse space, adding that its location of a two-minute drive from the company’s current facility will help streamline business expansion. The acquisition is expected to be completed by the first half of 2025.
AME ELITE, KLK TO JOINTLY DEVELOP INDUSTRIAL PARK IN IJOK
The Edge, 31/10/2024 & NST, 01/11/2024
AME Elite Consortium Bhd is working together with Kuala Lumpur Kepong Bhd in a joint venture (JV) to develop a new industrial park in Ijok, Selangor. The collaboration marks KLK’s inaugural venture into industrial property development and represents an expansion for AME Elite outside of Johor and Penang, where it is a major industrial property developer. AME Elite has previously completed four industrial development projects and is currently developing four more industrial development projects, spanning a total land area of 839.4 acres with an estimated total gross development value (GDV) of approximately RM5.8 billion. Apart from one ongoing development project that is located in Penang, all other projects are located in Johor. To kickstart the partnership, the JV company named Oasis Innovation Sdn Bhd (OI) — 60%-owned by AME Elite via AME Industrial Park Sdn Bhd (AMEIP), and 40% by KLK via KLK Land Sdn Bhd (KLKL) — is acquiring two parcels of land in Ijok with a net development area of approximately 151.2 acres from KLK for a total cash consideration of RM230.54 million. The land, which was previously utilised for oil palm plantation, is located along Latar Expressway near Bandar Seri Coalfields in Sungai Buloh, Selangor. The proposed development will encompass a comprehensive range of industrial facilities that cater to diverse business needs, with the potential for worker accommodations and commercial components to create a self-sustaining industrial ecosystem. OI has also entered into a project management agreement with AME Development Sdn Bhd, an affiliate of AMEIP and a wholly owned subsidiary of AME Elite, to manage the project.
MAH SING, BRIDGE DATA CENTRES INK SECOND JV TO EXPAND DC HUB@SOUTHVILLE CITY TO 300MW POWER CAPACITY
The Edge, 28/10/2024 & The Star & NST, 29/10/2024
Mah Sing Group Bhd has signed a second collaboration agreement with Bridge Data Centres (BDC), backed by Bain Capital, to expand the development at Mah Sing DC Hub@Southville City. The site is approximately 36 acres and is poised to offer a 200MW of power capacity. This latest partnership builds on the initial agreement signed in May 2024 and together, these agreements increase the total planned power capacity to 300MW. The entire hub can support a 500MW power capacity, establishing Southville City as a modern data centre hub. The data centre’s first phase is anticipated to be operational by 2026. The 36 acres land for the 200MW power capacity project has been valued at approximately RM311 million. Strategically located within 20km of major data centre hubs in Cyberjaya and Bukit Jalil, Southville City offers access to key resources and infrastructure.
GAMUDA WINS RM451.4 MILLION JOB TO BUILD DATA CENTRE IN CYBERJAYA
The Edge, 01/11/2024
Gamuda Bhd has secured a RM451.4 million contract to build a data centre in Cyberjaya. The contract will cover the data centre’s foundational, civil, structural and architectural works. Works are expected to begin by December and be completed in 1Q26. The contract was awarded to a wholly owned subsidiary of Gamuda by BCEI Malaysia Sdn Bhd. BCEI was locally incorporated in 2023 by Burr Computer Environments Inc that specialises in planning, design and construction of information technology facilities for numerous Fortune 500 companies.
TROPICANA UNVEILS LIDO WATERFRONT BOULEVARD IN JOHOR WITH GROUNDBREAKING CEREMONY FOR SKYPARK KEPLER
The Edge, 01/11/2024
Tropicana Corp Bhd unveiled its 163-acre Lido Waterfront Boulevard in Johor on 30 October, kicking it off with an official groundbreaking ceremony with its main contractor, China State Construction Engineering Corp (CSCEC) for its first phase branded residence with Banyan Group, the Skypark Kepler. CSCEC is a global leader in construction and development with operations in over 100 countries. Lido Waterfront Boulevard, is home to seven key components such as residential, commercial, wellness, education, hospitality, recreational and other lifestyle offerings. The unique selling points of Lido Waterfront Boulevard are its freehold international zoning, fully-furnished flexi unit layouts with an unobstructed waterfront view, 2.5km waterfront boardwalk, Samsung smart home features, green-certified building, and multi-tiered security. Meanwhile, Skypark Kepler is a premium serviced apartment which will be jointly developed with Banyan Group, an independent global hospitality company with businesses in 22 countries. The Skypark Kepler is located on a 4-acre land, providing residents with fully furnished designer units, a wide range of flexible layouts and they will enjoy incentives such as Tropicana T Privilege membership points, golfers’ perks, T360 app rewards and services. Purchasers will also get exclusive access to the Banyan Sanctuary Club & Banyan Living. The two modern towers of the 54-storey are home to 856 units ranging from 667 sq. ft. to over 2,000 sq. ft. and will soon be unveiled as part of the first phase.
SENAI AIRPORT CITY MASTER DEVELOPER SELLS 15 ACRES OF INDUSTRIAL LAND TO TAIWAN-BASED CHENBRO MICOM
The Edge, 31/10/2024 & NST, 01/11/2024
Senai Airport City Sdn Bhd (SACSB), a member of MMC Group, is selling approximately 15.06 acres of industrial land located in the Senai Airport City Free Industrial Zone in Johor to Taiwan-based Chenbro Micom Co Ltd. SACSB, which is the master developer of the 2,718 acre Senai Airport City, has inked a sale and purchase agreement with Chenbro Micom’s wholly owned unit, Chenbro Malaysia Sdn Bhd. The details of the transaction have not been disclosed. Chenbro Micom is a pioneer in the design and manufacturing of integrated solutions for rackmount and tower servers, and personal computer chassis. To date, SACSB has developed Phase 1 and 2 of the airport city, totalling approximately 1,500 acres of industrial development. It is also ready to launch its Phase 3 of approximately 350 acres in 2025 with final stage negotiations with numerous high-value foreign direct investments.
GE SHEN SIGNS AGREEMENT TO SELL JOHOR INDUSTRIAL LAND FOR RM7.6 MILLION
The Edge, 30/10/2024
Contract manufacturer Ge-Shen Corporation Bhd announced on Wednesday that it is selling a plot of industrial land in Johor for RM7.6 million. The land in Tebrau, measuring about 1.23 acres, also has a factory sitting idle. The sale to Sim-Ray Engineering Sdn Bhd would provide the company an opportunity to unlock and realise the value of its investment in the property. The price tag represents a discount of 8.4% from the market value of RM8.3 million of the property as appraised by Irhamy Valuers International Sdn Bhd based on recent transactions of similar properties. The proposed disposal will not affect existing operations but once completed by March 2025, the company will book a net gain of about RM5.28 million from the sale.
SUNCON WINS ADDITIONAL RM347 MILLION DATA CENTRE WORKS IN JOHOR
The Edge, 31/10/2024 & The Star, 01/11/2024
Sunway Construction Group Bhd has been awarded additional tenant improvement works (TIWs) for its data centre construction project at the Sedenak Tech Park (STeP) in Johor for RM347 million. The contract was awarded by Yellowwood Properties Sdn Bhd, which brings up the contract amount from RM3.2 billion initially, to RM3.5 billion now. The completion date for the contract remains unchanged, with all phases of both the notice to proceed (NTP) works and TIWs scheduled for completion by February 2026. SunCon’s has secured new projects amounting to RM3.9 billion so far this year, while its total outstanding order book stands at RM7.8 billion. Earlier in June, SunCon won additional works worth RM1.5 billion for the JHB1X0 data centre known as NTP 4 — almost doubling the initial data centre contract value of RM1.7 billion first awarded on 31 December 2022.
SULING HILL DEVELOPMENT LAUNCHES RM1.3 BILLION NORTHERN TECHVALLEY @ BKE INDUSTRIAL PARK IN PENANG
The Edge & NST, 28/10/2024
Suling Hill Development Sdn Bhd, a joint-venture between AME Elite Consortium Bhd and Majestic Gen Sdn Bhd, officially launched Northern TechValley @ BKE in Seberang Jaya, Penang. Spanning 176 acres, the RM1.3 billion industrial park will be equipped with high-speed fibre-optic internet, recreational areas such as sports hall and a managed workers’ accommodation. The development will also be designed with sustainable features such as the usage of reflective glass that minimises heat transmissions, translucent sheets for natural lighting and solar photovoltaic panels for energy efficiency. As AME Elite’s first industrial park outside Johor, Northern TechValley marks a significant milestone in its expansion strategy. Suling Hill Development aims to attract leading companies from various sectors of semiconductors, electronics, medical technology and logistics into Northern TechValley @ BKE. Northern TechValley @ BKE is expected to be completed in 2029.
