PETALING JAYA (April 11): The Sime Darby Property Bhd and LOGOS SE Asia Pte Ltd announced that their joint venture (JV) company — SDPLOG — has successfully secured preliminary commitments of 50% for the first close of its inaugural Industrial Development Fund at US$250 million (RM1 billion).
According to a press statement on Monday (April 11), SDPLOG will focus on investing and developing high-quality industrial and logistics real estate assets, such as E-Metro Logistics Park at Bandar Bukit Raja in Klang, Selangor.
“We are making good progress in developing investment grade assets in Malaysia and to support the increase in demand for quality logistics products, infrastructure, as well as efficient supply chain management,” said Sime Darby Property group managing director Datuk Azmir Merican, adding that there is strong demand for quality real estate investment within the industrial and logistics sector.
Meanwhile, LOGOS Property’s head of Malaysia David Aboud added that the location of E-Metro Logistics Park is attractive to a wide range of end users.
“The location of the E-Metro Logistics Park is very attractive to a wide range of end users and as witnessed across the region, we expect to see a clear trend for high specifications to be incorporated within modern logistics facilities within the park. This includes a growing demand for cold stores with climate-controlled warehousing as well as automated solutions to support the increasing sophistication of supply chains,” Aboud noted.
Design and development work for two facilities in the E-Metro Logistics Park, the fund’s maiden asset, is underway with construction having commenced in end-March 2022.
The eco-friendly 177-acre development, spanning eight million sq ft in gross leasable area, is set to deliver efficient industrial and logistics solutions, with world-class expertise and facilities equipped with sustainable green features.
The E-Metro Logistics Park is connected to major logistics hubs such as Port Klang and the Kuala Lumpur International Airport, as it is accessible via major highways, namely the New Klang Valley Expressway, Federal Highway, New North Klang Straits Bypass and the West Coast Expressway.
About SDPLOG
On 29 September 2021, Sime Darby Property Berhad (“Sime Darby Property”) and LOGOS SE Asia Pte. Ltd. (“LOGOS Property”) entered into a shareholders’ agreement to form a joint venture (“SDPLOG”) to establish a platform focusing on developing and investing in assets primarily in the Industrial & Logistics sector. Sime Darby Property holds 51% equity of SDPLOG and is the first public-listed property developer in Malaysia to venture into the creation of development funds within the Industrial & Logistics sector. The remainder 49% equity of SDPLOG is held by LOGOS Property.
SDPLOG leverages on the synergies between both entities – Sime Darby Property’s presence and track record in the Malaysian property market together with its extensive and strategic landbanks, as well as LOGOS Property’s experience in fund management and developing property solutions in the logistics sector across the region.
Disclaimer: This press release does not and shall not constitute an offer, invitation, promotion or solicitation to invest or subscribe for interests in the Fund in any jurisdiction.
Media Contacts:
Hafiz Noor | +6019-424 8283 | hafiz.noor@simedarbyproperty.com
Rachel Mornington-West | +61 434 604 590 | RachelMornington-West@logosproperty.com
