KUALA LUMPUR: Logos SE Asia Pte Ltd, a leading Asia Pacific logistics real estate specialist, has entered into a joint venture (JV) with a local partner to develop a sustainable integrated logistics, warehousing and e-commerce hub.
To be built on three parcels of land collectively measuring 71 acres in Section 16, Shah Alam, the development will be completed in phases.
It will consist of a total development area of over eight million sq ft and a gross leasable area of approximately 5.4 million sq ft spanning across five warehouse blocks.
The JV transaction, brokered by Knight Frank Malaysia, will be by way of 60% share subscription by Logos into the project special purpose vehicle Global Vision Logistics Sdn Bhd which will undertake the development.
The multi-storey facility which will be one of the largest one-stop logistics hub in Malaysia upon its completion is designed with the flexibility to cater to multiple tenants, featuring driveway, ramps and cross-docking features to facilitate logistics efficiencies and effective traffic management.
The integrated project will also incorporate a drone landing pad, common canteen, workers dormitory, separation between pedestrian and heavy trucks movement and performance-based engineering for fire- fighting system as well as an ideal forklift travel path between dock area and the warehouse depth design.
Knight Frank Malaysia managing director Sarkunan Subramaniam said: “We are proud to share that Logos’ first venture into the Malaysian industrial market is represented by the largest-ever development project in terms of square footage embarked by the group across the Asia region.
“Given Logos’ extensive experience in managing and developing logistics facilities across nine countries within the region, we believe their participation will bring about advance technical and operational know-how in developing high-grade multi-level warehouses, elevating the Malaysian logistics property landscape to the next level.”
Knight Frank Malaysia capital markets executive director Allan Sim added: “Even amidst the pandemic, the investment by Logos into Malaysia is a strong testament and mark of confidence by international logistics players in the growth of our industrial sector.
“With this joint venture, Logos is expected to bring in a total FDI in excess of RM1 billion to the state of Selangor. We are all very excited with the prospects of how this investment will spur further activities for the Klang Valley logistics market and the Malaysian economy as a whole.”
Sim said the development is timely to capture and receive the increased enquiries and attention by multinationals looking to position their regional distribution centres (RDCs) in Malaysia.
“With the government’s increased focus in the National Budget 2021 to position Malaysia as a global supply chain hub, coupled with Mida’s dedicated efforts to promote new tax incentives such as the Global Trading Centre (GTC) targeted at regional distribution activities, we believe all these will be positive catalysts to attract further FDI into the country.
“Particularly with this development, it is strategically positioned to be part of LOGOS’ regional chain of logistics facility network, providing the added advantage for our growing logistics market to leverage and tap into LOGOS’ established pool of international big-name tenants,” he said.