UEM Sunrise Bhd expects the third phase of its Southern Industrial and Logistics Clusters (SILC) in Iskandar Puteri, Johor to be completed in the fourth quarter of 2017.
With the third phase set to have a gross development value (GDV) of RM800 million, the entire project – including the first and second phases which have already been completed and sold out – would take GDV to RM1.6 billion.
“We will invest between RM250 million and RM300 million for infrastructure in the next five years,” said UEM Sunrise managing director and CEO Anwar Syahrin Abdul Ajib following SILC’s phase three Kuala Lumpur launch.
Spanning 526.09ha, SILC is a fully integrated sustainable industrial park targeted at light to medium industries, reported Bernama.
As at December 2016, its first two phases saw RM350 million invested in infrastructure.
Notably, UEM Sunrise had earlier signed an agreement with Hong Kong’s Crown Worldwide Group for the acquisition of 1.67ha of land in phase three for RM16 million.
The Hong Kong-based company is an information management, world mobility, relocation and fine art logistics provider.
Crown Malaysia managing director Leon Hulme revealed that the land will be developed into a facility that can store more than 1.5 million boxes of corporate documents for the company’s Crown Record Management Band, while serving as home for its Crown World Mobility and Crown Relations brands.
Anwar noted that local investors accounted for 53 percent of investments in the SILC, while the rest came from international investors from Taiwan, Singapore, the United Kingdom, South Korea, India, the United States, Australia, Denmark, Germany, China and the Netherlands.
Image sourced from flickr
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
