Oriental Interest Bhd (OIB) Group, which develops housing and commercial projects has launched its maiden industrial project, Arym Pulau Indah and it hopes that it will become one of the leading industrial hubs in Selangor.
The developer has been looking for opportunities to diversify and has ventured into industrial real estate to ride on the e-commerce boom.
Its general manager of sales and marketing Wendy Lim said there is a market gap and lack of available and smaller sized industrial units in Shah Alam, Klang Meru, Telok Gong, and Bukit Raja.
Lim said that Arym is located in a highly strategic location and offers an array of unit types, including light industrial lots, medium industrial lots and heavy industrial lots.
The 196-acre Arym, which is shaped like a ship has 41 industrial units, and a small commercial component.
The project's total gross development value is about RM400 million.
Phase 1 of Arym is estimated to be completed in the first quarter of 2022.
"We were excited to see the industrial sector as a market with great potential, but we had to shift our strategies and mindset from that of the homeowner to the perspective of business owners and conglomerates," Lim said.
She said that OIB Group has been diligently planning Arym since 2017 and the hard work has paid off as the launch was very well-received.
MTT Shipping Sdn Bhd, via an instrumental agreement with OIB Group is acquiring six industrial lots or around 24.5 acres in Arym for over RM70 million.
Arym's strategic location and suitable land size meet MTT Shipping's requirements for the development of an integrated freight facility which includes an empty container depot, vehicle terminal, and staging facility.
In catering to the needs of different businesses, OIB has opted to move from outputting standardised structures and incorporated a design that allows them to customise individual lots for different contexts.
"Arym is focused on providing the land and infrastructure of the project, as this grants businesses the freedom for customisation as industrial requirements can be very specific.