JOHOR BARU: Johor Corporation (JCorp)’s subsidiary JLand Group Sdn Bhd (JLG) and Tiong Nam Logistics Holdings Bhd (Tiong Nam) will be developing a logistics park in Sedenak Technology Valley.
JCorp president and chief executive Datuk Syed Mohamed Syed Ibrahim said the project would be developed in phases over five years with an estimated gross development value (GDV) of RM2.39bil.
He said under the joint-venture, both parties would manage the master planning, development and the purpose-built logistics and warehousing hub.
“Spanning on a 121.40ha site, the project will create about 4,000 job opportunities from the development, construction and operation facilities,’’ Syed Mohamed said in a statement.
He said this after the signing ceremony between JLG and Tiong Nam at Menara Komtar witnessed by Iskandar Regional Development Authority chief executive Datuk Dr Badrul Hisham Kassim.
Representing JLG was its group managing director Datuk Akmal Ahmad who is also JCorp Real Estate and Infrastructure Division and Tiong Nam by managing director Ong Yoong Nyock.
Akmal said the logistics park in the Sedenak Technology Park will be part of a larger integrated ecosystem for targeted advanced industries.
“We also want to capitalise on the success of the Data Centre (DC) industry where phase one of the DC hub has attracted RM12.5bil in investment,’’ he said.
Ong said the joint-venture project is set to bring international players and pioneering multi-modal logistical and efficiency and productivity levels to support international and local trade, production and consumption activities.
He said the project would include ready-built solutions, such as built-to-specification warehouses and factories, to provide tenants with the flexibility of growing their businesses.
Ong said it would cater for e-commerce players, third-party logistics (3PL) operators, freight service providers, retailers and light-medium industrial companies.