Ijm Expands Investment In Warehousing Logistics, Uk Property Development

KUALA LUMPUR, Jan 12 (Bernama) -- IJM Corporation Bhd has unveiled two property-related developments -- its participation in the 28.73-hectare (ha) Shah Alam International Logistics Hub (SAILH) project and purchase of a 4.45-ha site in Hertfordshire County, the United Kingdom (UK), for redevelopment.

The construction and property development group said wholly-owned subsidiary IJM RE Sdn Bhd today signed an agreement with logistics provider Swift Haulage Bhd and Hartamas Mentari Sdn Bhd to acquire a 25 per cent stake in Global Vision Logistics Sdn Bhd, which is developing SAILH.

SAILH is set to be one of Asean's largest and Malaysia’s first green-certified logistics hub, it said in a statement today.

“The first phase of SAILH, which commenced construction in September last year, includes a four-storey warehouse complex, multi-level parking and office space with ancillary buildings. Set for completion in 2025, it will offer 2.8 million square feet of space,” the group said.

IJM said plans for the second phase are underway, bringing the total warehouse space to about six million square feet when all phases are completed.

IJM chief executive officer and managing director Lee Chun Fai said the group’s investment in Global Vision and SAILH is a strategic move to address the increasing demands of the logistics sector, spurred by e-commerce growth and supply chain diversification.

“This decision not only expands IJM's industrial property portfolio, focusing on high-value assets that generate recurring income, but also reflects our expertise in infrastructure and construction,” he said.

On the UK property purchase, IJM said its property arm IJM Land has acquired the freehold interest of the historic Shredded Wheat factory site in Welwyn Garden City, which is “ideal for redevelopment.”

The 11-acre (4.45ha) brownfield site, known as The Wheat Quarter (North Site), has been approved for 811 homes and 150,000 square feet of mixed-use space.

It said this development will feature a well-planned park and integrate the site's original 1920s architecture, including Grade II listed structures, offering a residential-led, community-focused design.

“The acquisition allows us to merge the site's historic character with contemporary design, fostering a vibrant community space that meets today's urban needs,” Lee said.

This move is part of IJM Land’s UK expansion strategy, building on the success of the Royal Mint Gardens project in Central London and its partnership with Network Rail.

The statement did not disclose the acquisition cost for the 25 per cent stake in Global Vision or the UK site.

-- BERNAMA