SELANGOR (Dec 22): Property developer Oriental Interest Bhd (OIB) Group has launched Arym Pulau Indah, its maiden industrial project, with an aim to drive economic growth of the state of Selangor. The company has inked a deal with MTT Shipping Sdn Bhd for the sale of industrial space of the project.
“Although OIB is known for developing residential and commercial projects, we have been looking for opportunities to diversify," said OIB Group general manager of sales and marketing Wendy Lim in a press statement.
"In doing that, we are excited to see the industrial sector as a market with great potential, but we have to shift our strategies and mindset from that of homeowners to the perspective of business owners and conglomerates. We have been diligently planning Arym since 2017 and our hard work has paid off as the launch was very well received,” she added.
MTT Shipping and related companies will be purchasing six industrial lots totalling approximately 24.5 acres for over RM70 million. Arym Pulau Indah has 196 acres to offer with 41 industrial units, a small commercial component and a total gross development value (GDV) of approximately RM400 million. Phase 1 of the development is slated to be completed in the first quarter of 2022 (1Q22).
“Arym is focused on providing the land and infrastructure of the project as this grants businesses the freedom for customisation as industrial requirements can be very specific. Furthermore, in areas such as Shah Alam, Klang Meru, Telok Gong and Bukit Raja, there is a market gap and lack of available and smaller-sized industrial units in these operating areas," said Lim.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates
TOP PICKS BY EDGEPROP
Marriott Hotel @ Empire City
Damansara Perdana, Selangor
Alam Nusantara
Setia Alam/Alam Nusantara, Selangor
Alam Nusantara
Setia Alam/Alam Nusantara, Selangor
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.