SELANGOR (Dec 22): Property developer Oriental Interest Bhd (OIB) Group has launched Arym Pulau Indah, its maiden industrial project, with an aim to drive economic growth of the state of Selangor. The company has inked a deal with MTT Shipping Sdn Bhd for the sale of industrial space of the project.
“Although OIB is known for developing residential and commercial projects, we have been looking for opportunities to diversify," said OIB Group general manager of sales and marketing Wendy Lim in a press statement.
"In doing that, we are excited to see the industrial sector as a market with great potential, but we have to shift our strategies and mindset from that of homeowners 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,” she added.
MTT Shipping and related companies will be purchasing six industrial lots totalling approximately 24.5 acres for over RM70 million. Arym Pulau Indah has 196 acres to offer with 41 industrial units, a small commercial component and a total gross development value (GDV) of approximately RM400 million. Phase 1 of the development is slated to be completed in the first quarter of 2022 (1Q22).
“Arym is focused on providing the land and infrastructure of the project as this grants businesses the freedom for customisation 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," said Lim.