KUALA LUMPUR: Paragon Globe Bhd’s sale of land to Bridge Data Centres Malaysia IV Sdn Bhd (BDC) indicates the company’s focus on digital infrastructure in Johor.
Executive chairman Datuk Seri Edwin Tan said the land sale to BDC underscores Johor’s growing prominence as a regional digital hub and PGB’s role in facilitating its development.
“While our primary role in this transaction is as a land provider, it aligns with our broader strategy to contribute to high-value sectors like digital infrastructure integral to the Johor-Singapore Special Economic Zone (JS-SEZ).
“At this stage, PGB is focused on optimising its land bank and enabling developments that drive regional economic growth. However, we remain open to exploring potential partnerships or strategic initiatives that could involve more direct participation in the data centre or digital economy sectors.
“By acting as an enabler for such projects, we position ourselves to remain agile and responsive to future opportunities in this space, should they align with our strategic objectives,“ Tan told SunBiz.
He said PGB remains focused on its core business as a property developer, and the company’s strategic direction is aligned with developing sustainable, high-quality properties.
“While we recognise the growing demand for digital infrastructure in Johor, especially with the state’s strategic positioning under the JS-SEZ, we are always open to potential opportunities across various industries, including tech and digital infrastructure companies.”
The recent disposal of two plots of industrial land in Desa Cemerlang, Johor, to BDC presents unique opportunities that allowed PGB to unlock significant value from its land bank while supporting Johor’s ambitions to become a regional digital hub.
When asked about PGB’s plans to expand its involvement in projects that cater to the digital economy, Tan said Johor’s strategic location and its inclusion in the JS-SEZ initiative offer immense opportunities in the digital economy.
“We are already contributing through land transactions that enable the development of data centres, and our future projects are designed to cater to the needs of a tech-driven demographic,“ he added.
At an extraordinary general meeting held in December last year, shareholders endorsed PGB’s plans to diversify its income streams and pursue strategic partnerships, including a proposed joint venture with Tropicana Danga Bay Sdn Bhd (TDB) to develop a landmark project in Danga Bay. The development rights agreement with TDB is valued at RM102.46 million.
Tan said Danga Bay is a highly sought-after location in Johor Bahru, known for its waterfront appeal, proximity to Singapore,and strong potential for urban development.
The project has a gross development value of RM1.49 billion, underscoring PGB’s commitment to delivering high-quality, strategically positioned developments. The exclusive residential development is designed to meet the needs of professionals, expatriates, and investors seeking premium urban living in one of Johor’s most vibrant and well-connected locations.
Tan said while the JS-SEZ initiative primarily fosters commercial and industrial growth, its economic significance indirectly supports the residential property market.
“As the region’s economy expands and attracts talent and businesses, the demand for well-located, high-quality residences in areas like Danga Bay is set to rise. This positions the development as a key residential offering catering to an affluent and discerning market.
“Additionally, the project is set to achieve the prestigious GreenRE Gold certification, reflecting PGB’s unwavering commitment to sustainable development and environmental stewardship. The development’s alignment with sustainable and ESG-focused principles reinforces our vision of creating impactful, future-ready communities,“ Tan said.
With the shareholders’ approval, PGB is well-positioned to execute its growth strategy and solidify its position as a leading property developer in Malaysia. The group remains focused on delivering innovative and sustainable developments that meet the market’s evolving needs.
Source:
The Sun Daily
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