KLANG, 29 AUGUST 2022 – Sime Darby Property Berhad (“Sime Darby Property”), Mitsui & Co., Ltd. and Mitsubishi Estate Co., Ltd, joint venture Sime Darby Property MIT Development Sdn. Bhd. (“SDPMIT”) marked a significant milestone with the commencement of groundwork for its latest project at Bandar Bukit Raja Industrial Gateway in Klang today.
Selangor State Executive Councillor for Investment, Industry & Commerce and Small & Medium Enterprises YB Dato' Teng Chang Khim officiated at the event to commemorate the groundbreaking ceremony to develop the multi-tenanted Ready-Built Warehouse (“RBW”).
The RBW project has secured pre-committed tenancy for the entire warehouse by logistics tenants CEVA Logistics, a global logistics and supply chain company; together with SL Ng, a leading home grown FMCG market expansion service provider in Malaysia. Both tenants will occupy the two-storey warehouse with approximately 487,000 sq ft Gross Floor Area.
This is the third project to kick-off at the Bandar Bukit Raja Industrial Gateway developed by SDPMIT that aims to provide solutions for the global supply chain industry, featuring infrastructure that offers operational and technological scalability, as well as easy access to highways to transport goods.
Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican said that clients can expect a comprehensive suite of modern features from the RBWs built in Bandar Bukit Raja Industrial Gateway and are welcome to work closely with SDPMIT to customise the features of their assets to suit operational needs.
“The market demand for industrial and logistics products remains healthy, and we will continue to provide solutions to suit our clients’ needs. In terms of location, Bandar Bukit Raja Industrial Gateway is conveniently integrated with its surrounding ecosystem, offering easy access to road networks that connect with seaports and airports, as well as nearby residential areas,” he said.
Daiji Kojima, the Managing Director of Mitsui & Co. (Malaysia) Sdn Bhd and the President of the Japanese Chamber of Trade & Industry Malaysia (“JACTIM”) said that it is a privilege to partner with global and local third-party logistics players such as CEVA Logistics and SL Ng.
“The development at Bandar Bukit Raja represents a world-class industrial hub in Malaysia and it is our desire to keep our valued tenants satisfied with tailored features to suit their business and operational requirements,” said Kojima.
Bandar Bukit Raja Industrial Gateway spans across 39 acres of prime land, consisting of 10 plots for bespoke Grade A facilities. Two completed Built-to-Suit projects totalling 384,000 sq ft are now fully occupied with the first project handed over to Senheng Electric (KL) Sdn Bhd in 2020, while Leschaco (Malaysia) Sdn Bhd and CEVA Logistics receiving their shared product a year later.
The construction of this RBW has commenced and is expected to be completed in the second half of 2023. The two remaining projects are currently in various stages of negotiations with prospective tenants which include third party logistics providers, warehousing and distribution centres and cold chain logistics. The full take-up of this RBW demonstrates the marketability of Bandar Bukit Raja to meet the increasing global need for quality logistics products, infrastructure, as well as efficient supply chain management.
Bandar Bukit Raja is easily accessible via major highways such as the New Klang Valley Expressway (“NKVE”), Federal Highway, KESAS Highway, and the recently opened West Coast Expressway (“WCE”). These expressways connect Bandar Bukit Raja to major logistics hubs such as Port Klang and the Kuala Lumpur International Airports, and significantly to other Sime Darby Property industrial parks located in the City of Elmina and Serenia City in Selangor, and Hamilton Nilai City in Negeri Sembilan, among others.
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About Sime Darby Property Berhad
Sime Darby Property is a leading property developer with a strong success rate of developing sustainable communities for 50 years. With 25 active townships/developments, Sime Darby Property has a wide reach that encompasses assets and operations across the country. It marks its presence in the UK as part of a Malaysian consortium to develop the iconic Battersea Power Station Project in central London.
As a responsible corporate player, Sime Darby Property and its philanthropic arm, Yayasan Sime Darby (YSD) actively implement various initiatives to assist underprivileged communities living within and nearby its townships. A multi award-winning property group with numerous international and local accolades, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with MSCI ESG Rating of BBB and is rated by the Carbon Disclosure Project.
Sime Darby Property is honoured to be recognised with numerous real estate industry awards throughout the years. In 2021, the Group continues to be recognised as a top property developer in ‘The Edge Malaysia’s Top Property Developers Awards’, achieving the feat for the tenth year running. The Group was also named as ‘EdgeProp Malaysia’s Responsible Developer: Building Sustainable Development Award 2021’, as well as the winner in PwC’s ‘Building Trust Awards 2021’ under the FBM Mid 70 Index category.
For more information, log on to www.simedarbyproperty.com.
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About Mitsui & Co., Ltd.
Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries and regions in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has about 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio.
For more information on Mitsui & Co’s businesses, please visit https://www.mitsui.com/jp/en/index.html
About Mitsubishi Estate Co., Ltd.
A comprehensive real estate developer, Mitsubishi Estate Co., Ltd. boasts the leading position in the Japanese market, operating a spectrum of businesses in diverse fields related to real estate, including an office building business centered on the Marunouchi district in central Tokyo, a retail property business, a residential business, a hotel business and airport business. The Company's area of operations is not confined to Japan; it includes the United States and the United Kingdom and extends to such Asian countries as China, Chinese Taipei, Singapore, Indonesia and Vietnam.
The strength of the Mitsubishi Estate Group lies in its comprehensive business structure, which encompasses Group members that seamlessly cover businesses ranging from development to leasing and property management. Looking at the real estate industry in countries overseas, in most places the industry is divided into two main groups: developers and property managers. In contrast, the Mitsubishi Estate Group operates under a policy of maintaining ownership of the majority of the properties that it has developed. This enables the Group to pursue urban development with an eye to the future-a future of not only a decade or 50 years but as much as a hundred years from now.