PETALING JAYA: IJM Land Bhd has signed a joint venture agreement with Southern Catalyst Sdn Bhd (SOCAT), a Ministry of Finance Inc-linked company, to jointly develop approximately 307.17 acres of industrial and commercial land within the Johor–Singapore Special Economic Zone (JS-SEZ).
SOCAT is the master developer of the 2,940-acre Southern Catalyst Innovation District in Sedenak, Kulai, Johor. The area is envisioned as an integrated supply chain ecosystem where circular economy principles, renewable energy, smart infrastructure and multimodal logistics enable a resilient industrial growth.
The joint development between IJM Land and SOCAT carries an estimated gross development value (GDV) of RM2bil and will be undertaken over a period of six to eight years. The partnership will be undertaken through a joint venture company, IJM Land Sedenak Sdn Bhd, in which IJM Land holds a 70% equity stake while SOCAT holds the remaining 30%.
The site, located less than 3km from the Sedenak toll plaza with direct access to the North-South Expressway, is conceived as a future-ready industrial park to support high-value industries.
“Beyond strengthening our revenue pipeline, the project allows us to build greater depth and capability in the industrial space while contributing to Johor’s broader ambitions as a regional hub for advanced industries, innovation and cross-border economic activity. More broadly, the development also reflects IJM Group’s continued participation in the growth of the JS-SEZ,” said IJM Land chief executive officer Datuk Tony Ling Thou Lung.
“This joint venture with IJM Land marks a significant milestone in accelerating the development of an integrated, full-chain industrial ecosystem, spanning advanced research and development, smart logistics infrastructure and next-generation manufacturing capabilities. By harnessing our complementary strengths, we aim to establish a new benchmark for sustainable eco-industrial development, attract high-quality global investments and further strengthen Johor’s position as a leading regional gateway for innovation-driven and sustainable economic growth,” said SOCAT chief operating officer Mohd Shahreza Maswan.
Also present were IJM Corporation Bhd group chief executive officer and managing director Datuk Lee Chun Fai and IJM Land chief operating officer Datuk Chai Kian Soon.
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