Thursday 28 Mar 2024
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KUALA LUMPUR (July 28): UEM Sunrise Bhd’s 40%-owned Nusajaya Tech Park Sdn Bhd (NTPSB) will be partnering Japan’s Mitsui & Co. Ltd to offer build-to-suit (BTS) properties for leasing in Nusajaya Tech Park in Iskandar Malaysia.

In a statement today, NTPSB said it has entered into a joint venture agreement with Mitsui.

“Under the agreement, a total land area of 10.7 hectares will be set aside for BTS for lease within the 210-hectare Nusajaya Tech Park, at a projected development value of approximately S$167 million (RM468 million) over four years,” it said.

Mitsui and NTPSB will hold equity stakes of 49% and 51%, respectively, in the newly formed joint venture entity.

According to the statement, the joint venture will oversee and finance the entire real estate process for customers — from design, construction, project management to property management, thereby allowing companies to focus on their core business while enjoying the benefits of a customised facility provided by a trusted developer with strong credentials.

This joint venture also marked the first Japanese partnership for industrial parks in Iskandar Malaysia. Mitsui has an extensive network in Japan and know-how in areas such as industrial property development, management and leasing.

NTPSB is a company jointly owned by business space solutions provider Ascendas-Singbridge Pte Ltd and UEM Sunrise.

According to the statement, Ascendas has an established track record and capabilities in quality business space development and management, while UEM Sunrise is a leading Malaysian developer with in-depth local market knowledge and capabilities.

“Combining the respective strengths of these three partners, Nusajaya Tech Park will be well-positioned to provide differentiated solutions to Japanese corporations in Iskandar Malaysia, as well as attract a new wave of Japanese investments into the region. The park will also benefit from potential synergies with the Smart City project that Mitsui is undertaking in the Medini district within Iskandar Malaysia,” NTPSB added.

Designed for a wide range of light to medium industries, Nusajaya Tech Park offers an eco-friendly and world-class business environment, with integrated industrial, commercial spaces, dormitories, amenities and support facilities, all in one location.

It is also the first township in Malaysia to be awarded Singapore’s Building and Construction Authority’s Green Mark for Districts — Gold (Provisional) Award.

 

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