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Sime Darby Property, Logos Property JV to develop E-Metro Logistics Park

admin2023-01-1110

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KLANG: The Sime Darby Property Bhd and Logos SE Asia Pte Ltd (Logos Property) joint venture, known as SDPLOG is set to develop the E-Metro Logistics Park in Bukit Raja, Klang with potential assets under management in excess of RM3 billion.

Sime Darby Property group managing director Datuk Azmir Merican said the E-Metro Logistics Park is the first industrial development under SDPLOG’s inaugural shariah-compliant industrial development fund.

The fund recently announced 70 per cent in capital commitment secured at the first close for a fund size of up to US$250 million (US$1=RM4.43).

"The shariah-compliant fund will be anchored by Permodalan Nasional Bhd and unit trust funds under its management (PNB) as well as Kumpulan Wang Persaraan (Diperbadankan)," he said at the E-Metro Logistics Park groundbreaking ceremony graced by Selangor Menteri Besar Datuk Seri Amirudin Shari here today.

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"The development, spanning 71.63 hectares of gross lettable area (GTA) will be rolled out commencing in the third quarter of next year, with completion targeted for the third quarter of 2026,” he said.

Head of Malaysia, Logos Property David Aboud said Logos is a real estate fund manager based exclusively in the Asia Pacific and focuses entirely on the logistics and industrial sector.

"Our aim here is to build a large-scale integrated logistics hub. Some of these will be built specifically to suit the design and specifications of some of our larger global clients, while others will be built to target the general leasing need of the growing logistics market,” he said.

Meanwhile, Amirudin in his speech said more than 4,500 jobs were expected to be created over the upcoming years within the industrial development fund, be it from development, construction or jobs at the facilities.

"Through the E-Metro Logistics Park, the Sime Darby Property and Logos Property joint venture is expected to award RM1.8 billion in construction and development contracts which will significantly benefit the local community by providing local contractors, consultants and vendors with business and employment opportunities,” he said. - Bernama


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