Titijaya Land Berhad has entered into an agreement with DHL Properties Sdn Bhd to build and let a logistics commercial complex in Penang.
The complex will be built on a land measuring approximately 26,688 square meter with architectural design, layout, and building specification agreed upon by DHL and approved by the appropriate authorities. The investment cost is estimated at approximately RM200 million and the construction is expected to commence upon obtaining all necessary approvals with the completion date estimated to be by July 2023.
The tenure of the agreement is 10 years and the rent of tenure for the property and its assets are estimated approximately to be between RM160 million to RM 210 million.
