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Sime Darby Property, LOGOS SE Asia JV company secures preliminary commitments of 50% for first close of its Industrial Development Fund

PETALING JAYA (April 11): The Sime Darby Property Bhd and LOGOS SE Asia Pte Ltd announced that their joint venture (JV) company — SDPLOG — has successfully secured preliminary commitments of 50% for the first close of its inaugural Industrial Development Fund at US$250 million (RM1 billion).

According to a press statement on Monday (April 11), SDPLOG will focus on investing and developing high-quality industrial and logistics real estate assets, such as E-Metro Logistics Park at Bandar Bukit Raja in Klang, Selangor.

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

Meanwhile, LOGOS Property’s head of Malaysia David Aboud added that the location of E-Metro Logistics Park is attractive to a wide range of end users.

“The location of the E-Metro Logistics Park is very attractive to a wide range of end users and 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. This includes a growing demand for cold stores with climate-controlled warehousing as well as automated solutions to support the increasing sophistication of supply chains,” Aboud noted.  

Design and development work for two facilities in 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 development, spanning eight million sq ft in gross leasable area, is set to deliver efficient industrial and logistics solutions, with world-class expertise and facilities equipped with sustainable green features.

The E-Metro Logistics Park is connected 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, Federal Highway, New North Klang Straits Bypass and the West Coast Expressway.

Edited by Racheal Lee

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