TH Properties Berhad (TH Properties) is expecting greater interest for its techpark@enstek phase 3 project compared to the RM4 billion in investment brought in from the group’s previous two industrial park phases.
Its group chief executive officer Azman Ibrahim said the property sector is still growing in a smooth and steady manner despite not as fast as it was before, the group is confident that it could bring in more investment for the third phase of the industrial project.
“Obviously, (we are expecting more investment than the previous two phases). We had inquiries from a big player looking a bigger plots of land instead of a small pieces, they are looking at a bulk purchase…we are still negotiating with them,” he said after the launching of techpark@enstek phase 3 today (Nov 16).
Also at the launch was Negeri Sembilan’s Industrial and Non-Islamic Affairs action committee chairman Teo Kok Seong, representing Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.
Azman is upbeat about phase 3’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 are optimistic that this phase will register healthy demand similar to the trend recorded by the previous two phases in techpark@enstek,” he added.
TH Properties, a wholly-subsidiary of Lembaga Tabung Haji involved in the property, project development and asset and facilities management outfit also hopes that the latest phase of its industrial park, covering 616.64 acres of freehold land in Bandar Enstek, Negeri Sembilan will record robust uptakes in sales similar to industrial park phases.
Phase 1 and Phase 2 has been 100% and 88% sold, covering 336.44 and 307.34 acres, respectively.
With a gross development value (GDV) of RM1.4 billion, phase 3 will also be the biggest out of the three phases, to be developed in six phases over the span of 14 years.
The first phase of phase 3 will start this year and is expected to be completed by 2026, covering 189.38 acres.
Catering to Syariah compliant, advance technology and clean industries, the phase will include industrial and commercial plots, as well a new addition to techpark@enstek, semi-detached factories.
Azman said techpark@enstek is the first technology park and the only one in the region with HALMAS status by Halal Industry Development Cooperation.
“We feel strongly the opportunities for us to tap into a halal market is huge. We received inquiries from halal-related industries besides pharmaceuticals,” he said.
He also said that most of the inquiries for phase 3 came from China, signalling untapped potentials of investment from the republic.
“Despite the current economic climate, China is still heavily investing abroad. That is a huge potential for us,” he said.
He added the group said it is confident that new addition to techpark@enstek for phase 3, semi-D factories, targeting SMEs will have a high take-up rate.
“With the previous phases of techpark@enstek, we don’t have semi-D products but looking at the current trend, a lot of buyers are looking at ready made semi-D factories.
“Currently, we have big players, but downstream activities are lacking. That’s why we introduced semi-D factories in this phase…and there is a huge potential. The take up rate is going to be very high,” he added.
To date, the industrial park for phase 1 and 2 has brought in RM4 billion in investment and created 1,500 jobs for the residents of Bandar Enstek and its surrounding areas.
Within Negeri Sembilan, techpark@enstek emerges as the key biotechnology and halal hub and houses multinational corporations and renowned brands such as Ajinamoto Malaysia Berhad, Coca-Cola Bottlers (Malaysia) Sdn Bhd and Farm Fresh Berhad, among others.
It is expected to contribute well to the Negeri Sembilan government’s target of achieving RM5 billion investment this year after it had registered the highest investment in the history of the state last year with RM8.9 billion.
Cumulatively, the three phases of techpark@enstek made up 1,750.8 acres within 5,119 of Bandar Enstek township.
“Having established its name as one of the key players in the industry, I believe techpark@enstek can advance further to become the nucleus of the township through sustainable development, which will lift the state’s gross domestic product per capita over time and help to boost the country’s trajectory to become a high-income, high-technology nation,” said Azman.
