Sime Darby Property’s partnership with Logos Property will capitalise on the opportunities for expansion of its industrial and logistics sector with the newly established E-Metro Logistics Park.
Located at the Bandar Bukit Raja township in Klang, Selangor, the E-Metro Logistics Park is the maiden asset of SDPLOG – the joint venture between Sime Darby Property and Asia Pacific logistics specialist Logos Property – which plans to establish an industrial development fund focusing primarily to develop and invest in assets for clients in the logistics sector.
This venture will further drive the establishment of thriving industry-led communities, with job creations for the population living within and around the township.
Sime Darby Property group managing director, Dato’ Azmir Merican said, “In this joint venture, we contribute valuable developmental capabilities and strategically located landbanks in the partnership, while leveraging on Logos Property’s strong experience in fund management and logistics property development.
“The creation of sustainable, integrated logistics assets with implementation of the latest warehouse automation technology for tenants and end-users will allow Sime Darby Property to activate and monetise its landbanks efficiently.”
The eco-friendly E-Metro Logistics Park is a 177-acre development to deliver efficient industrial and logistics solutions with world-class expertise and facilities equipped with sustainable green features and seamless connectivity via land, sea and air.
The logistics park is accessible via major highways such as the New Klang Valley Expressway (NKVE), Federal Highway, New North Klang Straits Bypass (SHAPADU) and the recently opened West Coast Expressway (WCE). These expressways connect E-Metro Logistics Park to major logistics hubs such as Port Klang and the Kuala Lumpur International Airports.
The partners said the E-Metro Logistics Park will benefit from the high demand for logistics and warehousing solutions in the Klang Valley, following global trade flows and supply chain development in addition to a shift in consumer preference for goods that are bespoke and custom-made for their needs.
A prospective regional hub
According to real estate consultant CBRE APAC at the recent REHDA Institute’s CEO Series 2022 Annual Property Developers Conference, investors are especially keen on logistics investments, with an estimated 70 percent of increased enquiries in Asia Pacific.
This makes the E-Metro Logistics Park as a great prospect for investors as Malaysia is within one of the fastest growing economic regions in the world, with Southeast Asia recording an average GDP growth of 5.3 percent per annum over the last 20 years.
Coupled with its highly diversified economic and export structure, with developed integrated ecosystems, supportive labour market and a strong and well-capitalised financial sector, the development fund positions Malaysia as a smart and invaluable investment location for investors.
With approximately 2,800 acres of industrial landbanks along the west of peninsular Malaysia, Sime Darby Property has earmarked choice land parcels for future Fund developments, each with different value propositions to cater to a variety of business needs.
“We are very pleased to be partnering with Malaysia’s leading property developer, Sime Darby Property in this new joint venture. There is great synergy in providing high-quality logistics space to support economic growth in Malaysia,” said Logos Property’s head of Malaysia, David Aboud.
“There is a clear trend in the new structure of modern economies that will deliver exceptional growth in the e-commerce and food logistics sectors, and this will demand increasing sophistication in built logistics space. We look forward to working with Sime Darby Property.”