PHB Acquires RM300 Million Logistic Commercial Complex At Bayan Lepas Waterfront From Titijaya

Press Release: PHB Acquires RM300 Million Logistic Commercial Complex At Bayan Lepas Waterfront From Titijaya

Pelaburan Hartanah Berhad (PHB) has acquired a logistics real estate asset in Bayan Lepas Waterfront, Penang, from Bursa Malaysia-listed company Titijaya Land Bhd (Titijaya) for approximately RM300 million as part of its strategy to expand its logistic asset portfolio and strengthen recurring income streams.

Completed in 2024, the logistics commercial complex is fully leased to DHL Properties (Malaysia) Sdn Bhd, providing PHB with a stable rental income stream.

With this acquisition, the logistic segment now contributes about 11 per cent of PHB’s total investment property portfolio, reflecting the company’s growing focus on logistics and industrial assets.

The property was acquired from Aman Duta Sdn Bhd, an indirect wholly-owned subsidiary of Titijaya.

Located within Bayan Lepas Waterfront, the asset comprises approximately 28,562.8 square meters of leasehold land held under H.S.(D) 26408, Lot 72885, Mukim 12, District of Barat Daya, Pulau Pinang, along with a purpose-built three storey logistics commercial complex erected thereon known as “Penang Logistics Hub 5”. The property features a modern design and serves as a high-grade logistics hub equipped with an Automated Storage and Retrieval System (ASRS), enhancing operational efficiency and storage capacity.

PHB Group Managing Director, Mazuki Abdullah @ Muhammad said, “The acquisition of the logistic complex strengthens our presence in one of Malaysia’s key logistics hubs, while supporting our portfolio diversification strategy. The complex’s location in Bayan Lepas Waterfront positions us to benefit from continued growth across Penang’s logistics sector.

“Importantly, this asset provides long-term income visibility through a quality tenant and a stable lease structure. This is in line with our strategy to enhance our portfolio yield and strengthen our recurring income streams.

“As demand for quality logistics space continues to rise, this acquisition is an opportunity to enhance our portfolio’s performance and deliver competitive returns for Amanah Hartanah Bumiputera (AHB) unit holders,” he said.

He added that the acquisition supports the aspirations of the Bumiputera Economic Transformation Plan 2035 (PUTERA35), which aims to expand Bumiputera participation in the property sector and create long-term wealth through sustainable and competitive investment opportunities.

Titijaya Land Berhad’s Group Managing Director, Datuk Lim Poh Yit, said, “We are pleased to have completed this transaction with PHB, which reflects our commitment to creating value through quality income generating real estate investment and strategic asset management.

“This transaction demonstrates our proactive approach to managing our property portfolio and unlocking asset value. We remain focused on our core property development business and on pursuing opportunities that support the Group’s long-term growth and create sustainable value for our stakeholders,” he added.

PHB is an investment holding company under the purview of Yayasan Pelaburan Bumiputra (YPB), while AHB is a Shariah-compliant unit trust fund that invests primarily in income-generating commercial properties across Malaysia.

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