Aspen Group Holdings Ltd, via its 30%-associate company Global Vision Logistics Sdn Bhd (GVL), has acquired 71 acres of leasehold industrial land in Section 16, Shah Alam, Selangor from Chemical Company of Malaysia Bhd for RM190 million. GVL intends to develop the area into a sustainable integrated logistics, warehousing and e-commerce hub. Aspen said the gross development value of the proposed development will be determined once a master development plan is finalised in the near future.
GVL expects to invest at least RM600 million to enhance the logistic facilities and solutions and it is poised to offer prime integrated logistics expertise with approximately 3.3 million square feet in size and some of the largest logistic activities and solutions. The Penang-based, Singapore-listed developer said the proposed development will consist of warehouses, storage areas, distribution centres, offices, e-commerce services, transportation hub and packaging facilities that will have direct access to KTM lines and other major highways.
The plot of land is strategically situated near the Batu Tiga Toll along the federal highway, and is direct accessible through the Kampung Jawa KTM station, which runs parallel with the railway tracks. It is also within close proximity to Shah Alam i-City and Subang Jaya township, as well as other cities and townships in the Klang Valley.
Lot no: Lot 818, PT757 and PT758, Seksyen 16, Bandar Shah Alam, Daerah of Petaling, Selangor Darul Ehsan
Land area: 71 acres
Category of Land Use: Building
Land Price: RM190 mil (RM61.40 psf)
Date of transaction: 30 Nov 2017 (transaction completed on 13 June 2018)
Vendor: Chemical Company of Malaysia Bhd
Purchaser: Global Vision Logistics Sdn Bhd (30%-associate company of Aspen Group Holdings Ltd)