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Aspen (Group) Holdings, via its 30 percent associated company Global Vision Logistics (GVL), has acquired 71 acres of leasehold land in Shah Alam, Selangor for RM190 million (S$6.5 million).
In an SGX filing, Aspen revealed plans to develop the land, which it acquired from Chemical Company of Malaysia Berhad, into a sustainable integrated logistics, warehousing and e-commerce hub.
It expects GVL to invest at least RM600 million (S$200 million) “to enhance the logistic facilities and solutions and it is poised to offer prime integrated logistics expertise with approximately 3.3 million sq ft in size and a comprehensive set of logistic facilities and solutions”.
“The proposed solutions include the provision of distinct logistic options such as 2nd Party Logistics (2PL), 3rd Party Logistics (3PL), and 4th Party Logistics (4PL) management options; well balanced and managed multinational tenant mix under tenancy with flexible tenure and warehouse size options; integrated facilities and services customised to meet the tenants’ objectives and needs; a conducive environment for the intended business activities; and a readily available labour force from the developed and upcoming communities surrounding the proposed development,” it added.
Strategically located in Section 16 Shah Alam, off the Batu Tiga Toll along the Federal Highway, the site enjoys direct access to Kampung Jawa KTM station and is parallel to the railway track. It is also near Shah Alam i-City and the Subang Jaya township.
“With our experienced partner and the strategic location of the development, we are confident that this development will complement the Digital Free Trade Zone, the brainchild of Jack Ma, the founder of Alibaba Group,” said Aspen president and group CEO Dato’ M. Murly.
Aspen noted that the proposed development’s gross development value will be determined once the master development plan is finalised in the near future.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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