JV deal to develop logistics hub inked

PNB's indirect unit MIDF Property and two others will develop a 90ha industrial and logistics hub in Kota Seri Langat.

PETALING JAYA: MIDF Property Bhd, Kwest Sdn Bhd and AREA Industrial Development Holdings Sdn Bhd have signed a joint-venture agreement for the development of a 90ha industrial and logistics hub in Kota Seri Langat, Selangor

MIDF Property is an indirect unit of Permodalan Nasional Bhd while KWEST is a unit of Kumpulan Wang Persaraan (diPerbadankan).

A statement said the COMPASS@KSL project with a gross development value of RM1.4bil, will be gated and guarded with a fully integrated suite of services for logistics and e-commerce operators, manufacturers, and light and medium SME industries.

The site will be offering “built-to-suit” warehouses and manufacturing facilities for sale or lease with sizes ranging from 100,000 sq ft to 1,000,000 sq ft.

Smaller detached factories of 8,000 sq ft to 50,000 sq ft located at the SME Precinct in the park will be “built for sale”.

This will help meet the demand of operators wishing to operate from a world-class industrial facility in the Klang Valley.

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