OIB Group inks deal with MTT Shipping for sale of industrial space in Arym Pulau Indah

Property developer Oriental Interest Berhad (OIB) Group has launched Arym Pulau Indah to drive economic growth for the state of Selangor. 

MTT Shipping and related companies will purchase six industrial lots totalling approximately 24.5 acres for more than RM70 million via this instrumental deal.

This partnership will be the first among many others, as Arym Pulau Indah still has a lot to offer with its 196-acre plot of land consisting of 41 industrial units, a small commercial component, and a total GDV of approximately RM 400 million. Phase 1 of the development is estimated to be completed in Q1 of 2022.

“Although OIB is known for developing residential and commercial projects, we have been looking for opportunities to diversify. In doing that, we were excited to see the industrial sector as a market with great potential, but we had to shift our strategies and mindset from that of the homeowner 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,” Wendy Lim, General Manager of Sales and Marketing of OIB Group said. 

Arym Pulau Indah’s strategic location proves to be a tactical space for MTT Shipping which provides comprehensive shipping services between Peninsular and East Malaysia, including regional ports within SEA such as Singapore, Thailand, and Brunei. 

Ooi Lean Hin, the Managing Director of MTT Shipping said, “The availability of the combined acreage of 24.5 acres enables us to rationalise the development of an integrated freight facility which will provide synergistic operational leverage of the various logistics facilities located within the development. 

The location of the land which is within the vicinity of the nation’s premier port, Westports, provides strategic value propositions for our customers in respect of cost and efficient logistics solutions”. 

“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. 

On top of offering an array of unit types, including light industrial lots, medium industrial lots, and heavy industrial lots, Arym is located in a highly strategic location, and hopefully, it will grow to become one of the leading industrial hubs in Selangor,” Wendy addressed. 

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