Press Release: OIB Group Inks Deal with MTT Shipping for Sale of Industrial Space in Arym Pulau Indah
In light of the pandemic this past year, and the e-commerce boom that has taken place as a result, demand for industrial spaces and facilities have been at a high with the logistics industry facing immense pressure to meet consumer demands. However, with a dwindling supply in strategically located areas around the Klang Valley, prices for industrial lots have become simply unsustainable.
Known for its track record of identifying and bridging market gaps within the residential segment over the past 3 decades, property developer Oriental Interest Berhad (OIB) Group launches Arym Pulau Indah, with an aim to bridge yet another gap and drive economic growth for the state of Selangor. OIB Group will be welcoming MTT Shipping Sdn Bhd, one of the leading carriers in Malaysia, to its maiden industrial project.
Through this instrumental agreement, MTT Shipping and related companies will be purchasing 6 industrial lots totalling approximately 24.5 acres for over RM70 million. This partnership will be the first among many others as Arym Pulau Indah still has a lot to offer with its 196-acre plot of land comprising 41 industrial units, a small commercial component and a total GDV of approximately RM 400 million. Phase 1 of the development is estimated to be completed in Q1 of 2022.
“Although OIB is known for developing residential and commercial projects, we have been looking for opportunities to diversify. In doing that, we were excited to see the industrial sector as a market with great potential, but we had to shift our strategies and mindset from that of the homeowner to the perspective of business owners and conglomerates. We have been diligently planning Arym since 2017 and our hard work has paid off as the launch was very well-received,” said Wendy Lim, General Manager of Sales and Marketing of OIB Group.
Shaped like a ship, along with its strategic location near the country’s primary port, Arym Pulau Indah proves to be a tactical space for MTT Shipping which provides comprehensive shipping services between Peninsular and East Malaysia, including regional ports within SEA such as Singapore, Thailand and Brunei. With its strategic location and suitable land size, Arym Pulau Indah meets MTT Shipping’s requirements for development of an integrated freight facility which includes an empty container depot, vehicle terminal, and staging facility.
Mr Ooi Lean Hin, the managing director of MTT Shipping said, “The availability of the combined acreage of 24.5 acres enables us to rationalise the development of an integrated freight facility which will provide synergistic operational leverage of the various logistics facilities located within the development. The location of the land which is within the vicinity of the nation’s premier port, Westports, provides strategic value propositions for our customers in respect of cost and efficient logistics solutions”.
In catering to the needs of different businesses, OIB Group has opted to move from outputting standardized structures and incorporated a design that allows them to customize individual lots for different contexts. This feature would benefit many organizations, including MTT Shipping which is looking to develop a Depot equipped with state-of-the-art technology, including a platform which connects all the relevant stakeholders including shipping lines and hauliers for effective container management and planning. The platform will be able to improve efficiency, visibility and service improvements to shipping lines and hauliers in respect of pick-ups and drop-offs, providing fast truck turnaround and improving the overall operational flow of the supply chain.
“Arym is focused on providing the land and infrastructure of the project, as this grants businesses the freedom for customization as industrial requirements can be very specific. Furthermore, in areas such as Shah Alam, Klang Meru, Telok Gong, and Bukit Raja, there is a market gap and lack of available and smaller sized industrial units in these operating areas. On top of offering an array of unit types, including light industrial lots, medium industrial lots and heavy industrial lots, Arym is located in a highly-strategic location, and hopefully it will grow to become one of the leading industrial hubs in Selangor,” Wendy added.
— End of Press Release —
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.
Love to be updated of investment news? Sign up for KopiWeekly. (once per week for property, finance, investment news and more)
Next suggested article: Major reasons to buy a commercial property for your business or for investment