PETALING JAYA: Integrated industrial space solutions provider AME Elite Consortium Bhd is acquiring a prime 37.5-acre freehold land parcel within Taman Teknologi Johor, Senai, for RM106.2 million, expanding the group’s landbank for future developments.
AME’s wholly owned subsidiary, Golden Symphony Sdn Bhd, recently entered into a sale and purchase agreement to acquire the land from Dahlia Utama Sdn Bhd. Upon completion of the acquisition, AME’s balance landbank will increase to 302.2 acres, including a 176-acre development land in Penang, and excluding recently sold properties pending transaction completion. The new land acquisition will provide the group with ample development pipeline until 2030.
The site, located 20km from Johor Bahru city centre and in proximity to AME’s flagship industrial parks, i-Park@Indahpura and i-Park@Senai Airport City, is well positioned for the development of an industrial cluster.
Executive director and group CEO Dylan Tan Teck Eng said the latest acquisition enables them to leverage the increasing demand for high-quality industrial facilities, driven by Johor’s thriving economic landscape, strategic location and supportive government policies.
“We are confident that this development will attract significant domestic and international investment, further establishing our position as a leading provider of world-class industrial space solutions,” he added.
AME anticipates completing the acquisition in the third quarter of 2024. The project is expected to contribute positively to earnings in the medium term. The purchase consideration will be funded through a combination of external borrowings and internal funds.
AME’s industrial parks have set a benchmark for excellence in the industrial landscape, with successful establishment of five industrial parks in Johor. Ongoing projects include i-Park@Senai Airport City and i-TechValley at SILC, featuring custom-built industrial buildings within well-planned gated and guarded incorporating sustainable-design elements, complemented by recreational facilities and workers dormitories.
Source: The Sun Daily
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