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INDUSTRIAL real estate, which proved to be a resilient sector during the pandemic, is expected to remain on the radar of investors.
On the local front, several companies have announced their expansion in the industrial space, as the country transitions into the endemic phase.
Sunway Real Estate Investment Trust (Sunway-REIT) has announced that it was acquiring industrial property in Petaling Jaya for RM60.05mil.
According to Sunway-REIT Management Sdn Bhd chief executive officer Datuk Jeffrey Ng, the acquisition is in line with the REIT’s strategic direction to expand its asset portfolio in the industrial segment.
The proposed acquisition will fortify its efforts to grow its property value to between RM14bil and RM15bil.
“The proposed acquisition will further strengthen our position as the second largest REIT in Malaysia, measured by property value,” he says.
Main Market-listed Dynaciate Group Bhd has also announced that it was acquiring 7,689.62 sq m of freehold industrial land in Seremban, Negri Sembilan for RM15mil.
Earlier this month, Dynaciate announced plans to acquire a 5.8-acre freehold industrial land in Bentong, Pahang for RM12mil.
Executive director Melvin Lim says the acquisition of the Bentong property is part of its ongoing strategy to identify, invest and develop potential industrial land and buildings.“Having seen the increasing demand and growth in industrial property markets in Malaysia, we are confident that the proposed acquisition will contribute positively to the group’s future earnings.
“This is taken into consideration with the strategic location of the Bentong property, as well as the provision for its future appreciation within its vicinity,” he says.
TF-AMD Microelectronics Sdn Bhd, an assembly and test service provider for high performance computing and communication solutions, has also announced plans to expand its manufacturing facility in Penang with the construction of a second site at the Batu Kawan Industrial Park.
With nearly RM2bil of capital investment, the new manufacturing facility is expected to create more than 3,000 new jobs in advanced semiconductor engineering, design and process technologies for high-performance computing solutions.
The new facility, spanning 1.5 million sq ft and occupying 14 acres, will manufacture advanced integrated circuit technology and is expected to be completed in 2023.Once completed, the facility will bring TF-AMD’s total manufacturing capacity to over 2.3 million sq ft.
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