Sime Darby Property-LOGOS joint venture secures 50% commitments to inaugural fund

KUALA LUMPUR (April 11): The Sime Darby Property Bhd and LOGOS SE Asia Pte Ltd joint venture (SDPLOG) announced that it has secured preliminary commitments of 50% for the first close of its inaugural industrial development fund at US$250 million.

In a statement on Monday, it said it will focus on investing and developing high-quality industrial and logistics real estate assets in Bandar Bukit Raja, Klang, Selangor.

"The commitment is anchored by leading institutional investors and SDPLOG is confident of securing further commitments in 2022, given an overall healthy investors' interest in logistics as an asset class," it said.

Its maiden development, the E-Metro Logistics Park, is set to deliver logistics solutions with world-class facilities in Bandar Bukit Raja.

Sime Darby Property group managing director Datuk Azmir Merican said there is strong demand for quality real estate investment within the industrial and logistics sector.

"We are making good progress in developing investment grade assets in Malaysia and to support the increase in demand for quality logistics products, infrastructure as well as efficient supply chain management," he said.

Meanwhile, LOGOS Property's head of Malaysia David Aboud said the location of the E-Metro Logistics Park is very attractive to a wide range of end users as witnessed across the region.

"We expect to see a clear trend for high specifications to be incorporated within modern logistics facilities within the park.

"These include a growing demand for cold stores with climate-controlled warehousing as well as automated solutions to support the increasing sophistication of supply chains," he said.

Design and development work for two facilities at the E-Metro Logistics Park, the fund's maiden asset, is underway with construction having commenced in end-March 2022.

The eco-friendly 177-acre (71.63-hectare) development is set to deliver efficient industrial and logistics solutions spanning eight million square feet in gross leasable area, with world-class expertise and facilities equipped with sustainable green features.

The E-Metro Logistics Park features excellent connectivity to major logistics hubs such as Port Klang and the Kuala Lumpur International Airport, as it is accessible via major highways, namely the New Klang Valley Expressway, the Federal Highway, the New North Klang Straits Bypass, and the West Coast Expressway.

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