KUALA LUMPUR: Singapore-based Equalbase yesterday held a groundbreaking ceremony for its RM220 million Valdor II multi-storey warehouse in Penang.
Equalbase specialises in the development and management of modern, sustainable industrial logistics assets,.
The multi-storey warehouse, with a gross floor area of 620,000 square feet, is scheduled for completion in 2025.
DSV, a global logistics leader, has been confirmed as the anchor tenant of Valdor II.
Located in Penang's industrial growth zone, Valdor II is connected to Batu Kawan and Bayan Lepas, among other growing industrial areas, providing ease of operations.
Equalbase, together with its sister company Northmod, which focuses on investment management, forms the integrated platform Equalbase Northcrest.
Equalbase Development chief executive officer Nicholas Bischoff said the Valdor II project is another step forward in its journey to become the leading provider of carbon-neutral industrial assets in the region.
Valdor II will incorporate low-carbon construction materials and energy-efficient technologies, targeting to achieve both LEED Gold and GBI Gold certifications for sustainable design.
DSV Solutions Malaysia managing director Chin Pee Ching said the construction of Valdor II is DSV's commitment to meet the evolving needs of its customers.
"This warehouse will not only enhance our operational capabilities but will also enable us to better serve the diverse requirements of our customers across various industries while making a positive impact on the environment."
Northmod managing partner Paul Lee highlighted the importance of the region.
"The groundbreaking ceremony of Valdor II was an important day for us as we expand our presence in the region. Our focus on Penang is strategic due to the state's strong, investor-friendly economy.
Valdor II becomes DSV's first customised development in Malaysia and Equalbase's latest sustainable building in Penang.