SD Guthrie said the park will be developed on 641 acres of land in its estate in Kulai as a hub for high-value industries such as logistics, advanced manufacturing and clean technologies.
The company said it is buying the property, which 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.
It added that the industrial park would complement its proposed development of the smart AI container port project in Negeri Sembilan.
DONE DEAL: Bungalow, Taman Duta, Kuala Lumpur DONE DEAL: Condo unit, Menara Bukit Ceylon, Bukit Ceylon, Kuala Lumpur Jenjarom is expected to grow as a town, with new industrial projects and mixed developments under construction or being proposed.
IOI Properties group chief operating officer Teh Chin Guan: "With three industrial parks, including one under planning, in industrial growth areas such as Johor, Selangor and Melaka, I am confident that the launch of the IOI Industrial Park series readily positions the group as one of the premiere industrial developers in the country.
"Earnings for retail REIT will continue to be supported by positive rental reversion as the retail industry remains buoyant with strong shopper footfalls at malls," said MIDF, which has six REITs under its coverage.
In a bourse filing on Thursday, the trust said Pacific Trustees Bhd, acting as its trustee, has entered into four separate sale and purchase agreements (SPAs) for the acquisitions.
This partnership follows the success of two CLQ projects in Ipoh.
KL’s industrial market saw completions in 1H2024 with approximately 1.
The land is situated right next to the land area that Paragon Globe has been accumulating over the past few months.
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