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Catalist-listed Logistics Holdings announced Wednesday (3 September) that it acquiring a plot of land in Senai Industrial Park in Johor, Malaysia for RM38.8 million (S$15.3 million), marking the group’s maiden overseas property development venture.
The freehold land has an area of approximately 1.24 million sq ft or about 11.5ha. According to the group, the land will be used to build light and medium industrial factories “to meet the expected demand of industrial space” fueled by the budding townships in Iskandar Malaysia.
Phua Lam Soon, Chief Executive Officer of Logistics Holdings, said: “The factories that we are building can serve not just for the domestic demand but also cater to foreign companies from Singapore or China who are interested to set up processing or manufacturing facilities in Iskandar.”
Located in the precinct of the Senai Industrial Park, District of Kulaijaya, Johor, it is next to the Scientex Innoparc, a new township that is slated to be an industrial hub comprising factories and residential units.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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