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The project, a joint venture with Belgium-based Port of Antwerp-Bruges International (PoABI), is designed to be a long-term, sustainable maritime and industrial hub that is centred on value-added and innovation-driven industries.

Fajarbaru said the work is scheduled to begin on April 11 and will span nine months, with completion expected by Jan 10, 2026.

CIMB Securities said in its note that the domestic focus on the sector makes it relatively attractive to foreign investors.

Super spacious Desa ParkCity condo sold (Park Regent) | DONE DEAL 3-storey Mont’Kiara bungalow an absolute steal (Aman Kiara) | DONE DEAL Average transaction prices for industrial properties in Mukim Tanjung Minyak, Melaka, have seen steady increments each year, since 2021, which was the year with highest recorded average transacted prices post-pandemic.

Menteri Besar Datuk Seri Saarani Mohamad said this while acknowledging several challenges facing the implementation of the project, particularly the need to reclaim swampy land in the area.

NSIP is the first managed industrial park in the country to receive the recognition.

It is acquiring the stake through its wholly owned subsidiary, Ann Joo Management Services Sdn Bhd (AJMS), from KESB director Datuk Ong Tee Thong, according to a Bursa Malaysia filing on Tuesday.

Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May shared that the REIT is currently in closed talks with potential acquisition targets valued at RM300 million with heavy inclination towards industrial.

“We have been actively managing our balance sheet to create room for acquisitions and if we have a choice, we would be keen to deploy some of our capital again in the industrial and logistics area,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.

Under the MOU, NCT Group and the MEIA will focus on connecting the NSIP with stakeholders from the Guangdong province through investor relations programmes.