TH Properties launches Enstek techpark’s new phase with RM1.4bil GDV

KUALA LUMPUR: TH Properties Sdn Bhd (TH Prop) has launched Phase 3 of the Bandar Teknologi Enstek Industrial Park or Techpark@Enstek in Negri Sembilan with a gross development value of RM1.4 billion.

Group chief executive officer Azman Ibrahim is confident the latest phase of its techpark, covering 249.5 hectares of freehold land, will record robust sales uptake similar to its previous two industrial park phases.

TH Prop also expects strong and steady demand in the coming year for the latest phase, driven by the accelerated growth in Malaysia’s industrial property demand.

“TH Prop is upbeat about the phase’s growth prospects, owing to the park’s prime location, seamless connectivity and access, along with the Negeri Sembilan state government’s receptive approach and open policy towards investors, especially in high-tech industries. 

“We have already received inquiries from a few companies interested in the purchase of industrial plots, and we are optimistic that this phase will register healthy demand similar to the trend recorded by the previous two phases in techpark@enstek,” he said after the launch here today. 

Phase 3 will be developed in six stages over 14 years, Azman said, adding that the development mix will include industrial and commercial plots as well as semi-detached factories. 

Phase 1 and Phase 2 of Techpark@Enstek had been 100 per cent and 88 per cent sold respectively, he claimed.

Cumulatively, the three phases made up 708.5 hectares of freehold land within the 2071.6 hectares of Bandar Enstek township.

It is also the first technology park to receive the HALMAS status by Halal Industry Development Corp, currently houses significant numbers of multinational corporations and renowned brands since its commencement in 2002.

They include Ajinomoto Malaysia Bhd, Farm Fresh Bhd, Coca-Cola Bottlers (Malaysia) Sdn Bhd and Kellogg’s Malaysia.

Azman said within Negri Sembilan, Techpark@Enstek emerges as the key biotechnology and halal hub serving the rest of the state as well as Kuala Lumpur conurbation and Selangor. 

He also said affordable land prices, reliable power infrastructure and proximity to the capital cities and the country’s main entry points such as the Kuala Lumpur International Airport and Port Klang, drew investors to the location.

As industrial lands connected to transport hubs are becoming scarcer, any spillover effect of growth in Malaysia Vision Valley 2.0 and the influx of foreign and domestic direct investment to the area are likely to benefit developers with industrial land bank holdings around transport nodes such as that of the industrial park.

“Techpark@Enstek also plays a pivotal role in the development of Bandar Enstek township by generating business and job opportunities as well as propelling the overall vibrancy of the township.

The industrial park has brought in more than RM4 billion in investment and created 1,500 job openings for the residents of Bandar Enstek and its surrounding areas.

This is expected to contribute well to the Negri Sembilan government’s target of achieving RM5 billion investment this year after it had registered the highest investment in its history last year with RM8.9 billion.

Source: https://www.nst.com.my/business/corporate/2023/11/979017/th-properties-launches-enstek-techparks-new-phase-rm14bil-gdv