- J&T Distribution Solutions Sdn Bhd (“J&T”) has inked a tenancy agreement to occupy approximately 21% of Metrohub 2 with an option to expand by an additional 23% of space.
- Metrohub 2 is scheduled to be completed in 4Q2023 and is part of the 177- acre E-Metro Logistics Park in Bandar Bukit Raja.
ARA DAMANSARA / SINGAPORE / SYDNEY, 8 MAY 2023– The Sime Darby Property Berhad (“Sime Darby Property”) and LOGOS SE Asia Pte. Ltd. (“LOGOS Property”) joint venture (“SDPLOG”) marked a milestone with the signing of its first tenant for Metrohub 2, within the E-Metro Logistics Park. Metrohub 2 is the first industrial & logistic facility developed under SDPLOG’s inaugural Industrial Development Fund (“Fund”).
J&T is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing markets in the world. Founded in Indonesia in 2015, J&T Express’ network currently spans thirteen countries, namely Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil, and Egypt. J&T will be occupying approximately 21% of Metrohub 2 with an option to expand by an additional 23% of space.
J&T Express Malaysia CEO & J&T Distribution Solutions Director, Roy Zeng said, “We chose E-Metro Logistics Park due to the strategic location and connectivity to highways, seaports, and airports. The facility is also designed so that we can optimise our operations. Having worked with LOGOS in our previous facility, we are confident in our decision.”
Meanwhile, Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican said, “Through the joint venture, we are well positioned to cater to domestic and international clients looking to propel their businesses to new heights. We achieve this by harnessing the full potential of our high-quality logistics real estate assets, which provide integrated solutions and world-class facilities. We are pleased that J&T, our first tenant, has recognised the strategic value of the E-Metro Logistics Park and has chosen to broaden their warehousing and logistics requirements through our valued partnership.”
LOGOS Head of Malaysia, David Aboud added, “There is currently strong demand for modern logistics facilities particularly in good locations such as Bandar Bukit Raja. In particular the demand is focused on well specified warehouses and sustainability credentials. We continue to field enquiries for more than four million sq ft of logistics space for E- Metro Logistics Park all looking for placement before the end of 2024. We welcome this commitment by J&T and look forward to more tenants pre-committing to our facilities.”
Located within Sime Darby Property’s mature township of Bandar Bukit Raja, E-Metro Logistics Park is a 177-acre freehold logistics development which is being transformed into a sustainable, large-scale, integrated logistics park totaling 8 million sq ft of Gross Lettable Area (“GLA”) on completion. The Park will include built-to-specification and ready-built solutions to provide tenants with the flexibility to grow their businesses by adopting and expanding layout designs according to their commercial needs, including enhancements required for warehouse automation.
Construction for the first two facilities at E-Metro Logistics Park, Metrohub 1 and 2 with ~1.1 million sq ft and ~800,000 sq ft in GLA respectively are already underway with the first phase expected to be completed in 4Q2023.
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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.
