KUALA LUMPUR: Sime Darby Property Bhd-LOGOS SE Asia Pte Ltd joint venture says it has secured preliminary commitments of 50 per cent for the first close of its inaugural industrial development fund at US$250 million.
The JV company, SDPLOG, said the fund would focus on investing and developing high-quality industrial and logistics real estate assets in Bandar Bukit Raja in Klang, Selangor.
The commitment is anchored by leading institutional investors, and SDPLOG is confident of securing further commitments in 2022, given an overall healthy investors' interest in logistics as an asset class.
SD Property group managing director Datuk Azmir Merican said there was strong demand for quality real estate investment within the industrial and logistics sector.
"We are making good progress in developing investment grade assets in Malaysia and to support the increase in demand for quality logistics products, infrastructure, as well as efficient supply chain management," he said in a statement today.
LOGOS Property head of Malaysia David Aboud said the location of the E-Metro Logistics Park was very attractive to a wide range of end users and as witnessed across the region.
"We expect to see a clear trend for high specifications to be incorporated within modern logistics facilities within the park. This includes a growing demand for cold stores with climate-controlled warehousing as well as automated solutions to support the increasing sophistication of supply chains," he said.
SDPLOG said the design and development work for two facilities in the E-Metro Logistics Park, the fund's maiden asset, was underway with construction having commenced in end-March.
The eco-friendly 71.6-hectare development is set to deliver efficient industrial and logistics solutions spanning eight million square feet in gross leasable area, with world-class expertise and facilities equipped with sustainable green features.