An ultra-modern logistics commercial complex in a 20-acre mixed development located at Bayan Lepas, Penang will be coming up soon.
This is following the signing ceremony between City Meridian Development Sdn Bhd (a wholly owned subsidiary of TITIJAYA LAND BERHAD) (“TITIJAYA”) and DHL Properties (M) Sdn Bhd (“DHL”) held at the Ascott Gurney Penang.
Present to witness the ceremony was Penang Governor Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak along with Penang Chief Minister YAB Chow Kon Yeow.
Also present was State Exco for Domestic & International Trade, Consumer Affairs and Entrepreneurship Development, Datuk Abdul Halim Hussain.
Signing for City Meridian Development was Lim Poh Yit, the Group Managing Director of Titijaya and Mario Lorenz, the Managing Director of DHL Supply Chain Malaysia.
This project is expected to commence construction in June 2022 and anticipated to be completed by June 2023.
“Penang recorded the highest investment approved in Malaysia for 2021, a total of RM76.2billion out of RM195.1 billion.
“The projects in the manufacturing and the electrical & electronic (E&E) sectors have continued to mark their spots as the main contributor of investment in Penang and today’s partnership will further contribute to the growth of development in this state. Penang State Government and its relevant local authorities are committed to facilitate and expedite completion of this facility, expected to commence construction on site in June 2022,” said Chow in his speech.
The new facility will be the first of its kind for DHL to meet the supply chain demand of an American based technology multinational company, primarily for niche semiconductor industries and will be known as PLH 5 in Bayan Lepas Waterfront, Penang.
It is also the first facility to be fully equipped with pallet Automated Storage and Retrieval System (ASRS) with automated guided vehicles (AGVs) robotics technology in Penang and its close proximity to the Penang International Airport and the Sultan Abdul Halim Muadzam Shah Bridge (also known as the Penang 2nd Bridge) is a strategic location for a business to thrive.
”Partnership with the world’s largest logistic company will open up more opportunities for Titijaya on similar projects. This marks Titijaya’s first venture into a premium semiconductor facility and shall contribute positively to Titijaya’s prospects.” said Lim in his speech.
According to DHL, the growing demand and growth in the manufacturing and electronics and electrical industries in Penang and capability of Titijaya are amongst the main reasons for the collaboration with Titijaya, a renowned property developer, will open up unlimited growth opportunities for both companies.
Earlier in January 2022, Titijaya had also signed an MOU with the Penang Development Corporation for the development of Medi-Tech City occupying a 230-acre land in Batu Kawan, Penang. Titijaya will continue to explore investment potentials in Penang and contribute to the overall growth of the state and Malaysia in general.
TITIJAYA LAND BERHAD, is an urban lifestyle developer in Malaysia poised for greater growth after more than two decades in the property industry and has proven to be a notable property developer with its successful high-rise residential projects, integrated developments, commercial hubs, SoHo and industrial developments.
Over the years, Titijaya has been awarded with accolades such as The Edge Top 30 Property Developers Award 2021, The Asia Pacific Property Awards Development in association with American Standard 2019 – 2020. It has also received the CSR Malaysia Awards 2019 in recognition of its outstanding CSR initiatives.