SimeProp-LOGOS JV will get 50% dedication for fund

PETALING JAYA: The Sime Darby Property Bhd (SimeProp) and LOGOS SE Asia Pte Ltd three way partnership (JV) has introduced that it has secured preliminary commitments of fifty% for the primary shut of its inaugural industrial growth fund at US$250mil (RM1.06bil).

In an announcement, it mentioned it should give attention to investing and creating high-quality industrial and logistics actual property belongings in Bandar Bukit Raja in Klang, Selangor.

“The dedication is anchored by main institutional buyers and SimeProp-LOGOS is assured of securing additional commitments in 2022, given an total wholesome investor curiosity in logistics as an asset class,” it mentioned.

Its maiden growth, the E-Metro Logistics Park, is about to ship logistics options with world-class services in Bandar Bukit Raja.

SimeProp group managing director Datuk Azmir Merican mentioned there was sturdy demand for high quality actual property funding throughout the industrial and logistics sector.

“We’re making good progress in creating investment-grade belongings in Malaysia and to help the rise in demand for high quality logistics merchandise, infrastructure in addition to environment friendly provide chain administration,” he mentioned.

In the meantime, LOGOS Property’s head of Malaysia David Aboud mentioned the placement of the E-Metro Logistics Park was very engaging to a variety of end-users and as witnessed throughout the area.

“We count on to see a transparent pattern for top specs to be included inside trendy logistics services throughout the park.

“This features a rising demand for chilly shops with climate-controlled warehousing in addition to automated options to help the rising sophistication of provide chains,” he mentioned.

Design and growth work for 2 services within the E-Metro Logistics Park, the fund’s maiden asset, is underway with building having commenced at end-March.

The eco-friendly 71.63-ha growth is about to ship environment friendly industrial and logistics options spanning eight million sq. ft in gross leasable space, with world-class experience and services outfitted with sustainable inexperienced options.

The E-Metro Logistics Park options glorious connectivity to main logistics hubs corresponding to Port Klang and the KL Worldwide Airport, as it’s accessible through main highways, specifically, the New Klang Valley Expressway, Federal Freeway, New North Klang Straits Bypass and the West Coast Expressway. — Bernama


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