Australia’s LOGOS SE Asia has entered into a joint venture with Global Vision Logistics (GVL) Sdn Bhd to develop a logistics, warehousing, and e-commerce hub on a 29-hectare site in Section 16, Shah Alam, Selangor.
The site was acquired by GVL, which is a 30% associated company of Singapore-listed, Penang-based developer Aspen (Group) Holdings, in 2017.
The RM1.5 billion project will be developed over a period of six to seven years and is set to be one of the largest logistics hubs in the world, reported The New Straits Times (NST).
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With a total development area of eight million sq ft, the project will feature five warehouse blocks and a net leasable area of five million sq ft. The first block is set to be ready in three years.
Allan Sim, executive director of capital markets at Knight Frank Malaysia, noted that the investment by LOGOS is the biggest industrial project so far in terms of square footage not only in Selangor but also in the Asia Pacific region.
Sarkunan Subramaniam, managing director at Knight Frank Malaysia, expects the project to create job opportunities for the locals.
It could also spur demand for properties within the area “as some locals who plan to get jobs there, may want to relocate to be closer to the project”, he said as quoted by NST.
“Shah Alam is located in a very strategic location within Klang Valley. This hub aims to assist many companies in their last-mile delivery. It is good that LOGOS is investing here. It is a large hub to serve the consumers for logistics. Overall, this is good for Selangor,” he added.
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