Property

WTK Holdings Bhd has proposed to dispose of three industrial leasehold properties in Seberang Perai Tengah, Penang, to NationGate System Sdn Bhd for RM38 million in cash. In a filing with Bursa Malaysia, WTK said its wholly-owned subsidiary, Loytape Industries Sdn Bhd, had entered into a sale and purchase agreement with NationGate System for the proposed disposal. The properties have a combined land area of approximately 265,003 sq ft and comprise two parcels of land with factory, office and ancillary buildings, together with a third parcel of vacant land. All three properties are located in Seberang Perai Tengah, Penang. WTK said the agreed disposal price of RM38 million represents a 15.5% premium over the properties’ combined market value of RM32.9 million. The proposed sale is expected to generate an estimated net pro forma gain of RM30.46 million after accounting for the properties’ audited net carrying amount and estimated real property gains tax. The disposal will allow WTK to unlock value from its existing industrial assets, while the transaction will transfer ownership of the properties to NationGate System upon completion, subject to the terms and conditions of the sale and purchase agreement.

QEW Group Berhad has signed a Heads of Agreement (HOA) in connection with the proposed Malaysia International Halal & DataTech Park in Bukit Kayu Hitam, Kedah, marking a strategic milestone in the Group’s ambition to develop an integrated economic ecosystem connecting halal industries, technology and global markets. The HOA was signed by four parties: Invest Kedah Berhad, The Marq International Sdn. Bhd., QEW Group Berhad, and Food Safety Express Information Technology (Shenzhen) Co., Ltd., during the SG4 Business & Economic Forum 2026 at the Kuala Lumpur Convention Centre. The signing ceremony was witnessed by the four Menteri Besar of the SG4 states: YAB Dato’ Seri Haji Muhammad Sanusi bin Md Nor (Kedah), YAB Dato’ Panglima Perang Ustaz Dato’ Haji Mohd Nassuruddin bin Haji Daud (Kelantan), YAB Dato’ Seri Ir. Dr. Ahmad Samsuri bin Mokhtar (Terengganu), and YAB Tuan Abu Bakar bin Hamzah (Perlis), together with YB Prof. Dr. Haim Hilman bin Abdullah, Kedah State Executive Councillor for Industry and Investment, Higher Education, and Science, Technology & Innovation. QEW Smart Integrated Industrial Park Sdn. Bhd. (QSIIP) will serve as the Master Developer of the proposed Malaysia International Halal Industrial & DataTech Park within the QEW Smart Integrated Industrial Park development in Bukit Kayu Hitam, Kedah. QSIIP will coordinate the proposed master planning, development framework and project implementation, subject to applicable approvals, financing and definitive arrangements. The proposed development represents a step towards exploring new opportunities in industrial development and cross-border economic collaboration. With an indicative Gross Development Value (GDV) of up to USD 5 billion, the project reflects the potential scale and long-term aspirations of the proposed development. For QEW Group, the focus extends beyond development ambition. The Group remains committed to strengthening its financial position, building investor confidence and creating sustainable long-term value for its shareholders and stakeholders. These priorities will be guided by strategic partnerships, financial discipline and effective execution. Moving forward, QEW Group will focus on project planning, engagement with credible partners, financing considerations and measurable progress. The proposed development remains subject to further assessments, relevant land arrangements, financing, regulatory approvals and definitive agreements. The indicative GDV is not a confirmed investment commitment, financing receipt or realised revenue. QEW Group believes that long-term value is built through disciplined execution, responsible decision-making and strategic collaboration. The Group remains focused on translating its vision into tangible progress while contributing to Malaysia’s economic growth.

The joint venture developing Eco Business Park 7 in Negeri Sembilan has agreed to sell two plots of industrial land spanning a combined 222 acres to data centre operator Tera Data Centers for RM1 billion, highlighting continued demand for industrial land linked to Malaysia’s growing digital infrastructure sector. According to a statement by Eco Business Park 7 Sdn Bhd, the joint venture comprises Eco World Development Group Bhd, SD Guthrie Bhd and state agency NS Corporation. The transaction involves two industrial land parcels within the business park, although details of the data centre project planned for the site have not been disclosed. The sale reflects the potential for industrial developments to attract high-value investments, particularly as data centre operators seek suitable locations to expand their facilities and support growing demand for digital infrastructure. “Tera’s commitment represents a strong vote of confidence in Negeri Sembilan’s competitiveness as a preferred destination for high-tech and high-value investments,” Eco Business Park 7 said in its statement. Headquartered in Singapore, Tera Data Centers operates data centre facilities in Malaysia, Indonesia and Thailand, according to information on its website. The company’s acquisition adds to the profile of Eco Business Park 7 as an industrial destination seeking to attract businesses in technology-related sectors. Eco Business Park 7 said the transaction further demonstrates the development’s ability to attract both domestic investments and foreign direct investment. The park is the first industrial development launched within Parcel C of Malaysia Vision Valley 2.0, a large-scale development initiative in Negeri Sembilan. Since the project was launched in November 2025, more than RM800 million worth of industrial lots and ready-built factories have been sold in its first phase, according to Datuk Ho Kwee Hong, chief development officer of Eco Business Park 7. The sales performance indicates early market interest in the development, which is positioned to accommodate industrial and manufacturing activities as well as businesses requiring purpose-built facilities. The RM1 billion land transaction with Tera Data Centers adds to the development’s sales momentum and highlights the role of industrial parks in supporting investment in technology and other high-value industries. However, the joint venture has not provided further details on the timeline, specifications or intended capacity of the proposed data centre project. Malaysia Vision Valley 2.0 is a state-led megaproject covering approximately 379,000 acres across Seremban, Nilai and Port Dickson in Negeri Sembilan. NS Corporation, the statutory body responsible for leading the masterplan, has envisioned the development as an extension of Kuala Lumpur towards the south. The broader initiative aims to support economic growth and development across the region, with industrial and commercial projects forming part of its wider development landscape. The sale of the two land parcels to Tera Data Centers places Eco Business Park 7 among the industrial developments seeking to capitalise on investment opportunities in Negeri Sembilan, particularly as demand for suitable sites for data centres and other technology-related facilities continues to shape the industrial property market.

AME Elite Consortium Bhd has entered into four agreements to purchase 176.5 acres in Mukim Jeram Batu, Pontian, within the Johor-Singapore Special Economic Zone (JS-SEZ), for RM199.8 million. The land will be developed into an industrial area. In a filing with Bursa Malaysia, the company said no detailed development plans have been submitted, so it is too early to determine the project’s timeline, gross development value, development costs, expected profits or funding sources. The purchase will be made in cash and funded entirely through internally generated funds, AME Elite said in a statement. The sale and purchase agreement was entered into through AME Elite’s wholly-owned subsidiaries, Pulai Land West Sdn Bhd and Pulai Land East Sdn Bhd. AME Group’s short-term funds, cash and cash equivalents stood at approximately RM779.3 million, based on its latest interim financial report for the financial year ended June 30, 2026. The company said the purchase price represents a slight discount to the RM200 million market value ascribed by Knight Frank Malaysia Sdn Bhd. The proposed acquisition will allow AME Group to expand its land bank in a strategic location. The group expects the future development of the land to support earnings growth in the medium term, provided the development is properly planned. The lands are situated about 9km from the Malaysia-Singapore Second Link Expressway and 26km from the Tuas Checkpoint in Singapore, positioning the industrial park and manufacturing plant developer to capitalise on rising demand from foreign investors and manufacturers in the area. “The acquisition will strengthen our industrial development footprint and enable us to capitalise on the growth of foreign and domestic direct investments flowing into Johor,” said Dylan Tan Teck Eng, executive director and group CEO of AME Elite. The deal is expected to be completed by the first half of 2027. The acquisition follows a separate deal signed in March 2026 involving 31.8 acres of land in Senai for a total cash consideration of RM101.2 million. That deal is also expected to be completed by the first half of 2027. The two land banking exercises will together add more than 200 acres to the group’s remaining 295.3-acre land bank. AME Elite’s shares rose 0.8% to close at RM1.32 on Thursday, giving the company a market capitalisation of RM845.7 million.

NCT Alliance Bhd has officially launched the second phase of its NCT Smart Industrial Park (NSIP) in Sepang, Selangor, with a gross development value (GDV) of RM2.5 billion. Spanning 230.13 acres, Phase 2 will feature 241 industrial units, including detached, semi-detached, cluster and terraced factories, alongside industrial land parcels. Details on unit sizes and pricing will be announced later. The development is part of the larger RM10.2 billion NSIP project, which will be completed in six phases. Phase 1, covering 230.09 acres with 280 factory units, has achieved a 90% take-up rate, with keys handed over to buyers during the Phase 2 launch. Future phases will introduce additional industrial facilities and commercial developments, including petrol stations and shoplots. NCT Alliance executive director Yap Chun Theng said the industrial park has attracted businesses from various sectors, including technology, manufacturing, automotive, hospitality, ESG-related industries and small and medium enterprises (SMEs). He highlighted that NSIP supports Malaysia’s New Industrial Master Plan 2030, which focuses on high-value manufacturing, digitalisation and smart factory development. The project aims to move beyond traditional industrial parks by creating a modern, technology-driven industrial ecosystem with integrated management and services. Selangor Menteri Besar Datuk Seri Amiruddin Shari, who officiated the launch, said NSIP plays an important role in the Integrated Development Region in South Selangor (IDRISS) and the state’s industrial expansion. He expressed confidence that the development would attract high-value investments, create quality job opportunities and contribute to Selangor’s long-term economic growth. During the event, NCT Alliance also received a Master Services Agreement for the Managed Industrial Park (MIP) model from Majlis Perbandaran Kuala Langat. The MIP model combines centralised park management, security and digital services to improve business operations. It also includes the NCT G App, a digital platform that connects businesses and tenants directly with park management. Through these initiatives, NCT Alliance aims to establish NSIP as a modern, sustainable and well-managed industrial hub supporting Malaysia’s growing industrial sector.

QES Group Bhd is expanding its operations in Singapore with the acquisition of two office units worth S$5.47 million (approximately RM17.48 million). In a filing with Bursa Malaysia, the company announced that QES (Singapore) Pte Ltd, a 70%-owned subsidiary of QES (Asia-Pacific) Sdn Bhd, had signed a sale and purchase agreement with Singapore-based property developer JVA Nir Pte Ltd. The two freehold units are located at the Space Nova development along New Industrial Road in Singapore. Although classified for clean industrial (B1) use, the units will be used as office spaces to support QES Singapore’s business operations. The purchase price will be paid in cash through instalments based on construction progress, with vacant possession expected by 30 June 2029. QES Group plans to finance 90% of the acquisition, or approximately S$4.92 million, through bank borrowings. The remaining 10% will be funded using internally generated funds. The company has already paid a 5% deposit of approximately S$270,000 on 7 August 2026. According to QES Group, the acquisition is part of its strategy to support future business expansion in Singapore. Its existing premises have limited space for daily operations and product demonstrations. The new units will provide additional room for business activities, equipment demonstrations and customer visits. The acquisition is expected to increase the group’s gearing ratio from 0.31 times at the end of 2025 to 0.39 times. However, QES Group does not expect the purchase to have a significant impact on its earnings per share for the current financial year. The company indicated that the transaction is expected to be completed in the third quarter of 2026, while vacant possession of the units is scheduled for 2029. QES Group specialises in the sale and servicing of scientific instruments, industrial equipment and components. It also provides vision software solutions and engineering consultancy services. At the close of trading on Tuesday, QES Group shares fell two sen, or 3.4%, to 56.5 sen, giving the company a market capitalisation of approximately RM471.3 million. The property acquisition is expected to provide QES Singapore with additional space to support its operations and future business growth.

Centurion Corporation is expanding its presence in Malaysia with the acquisition of a workers’ accommodation facility in Pasir Gudang, Johor, for RM214.5 million (approximately S$67.2 million). The acquisition will increase the company’s accommodation capacity in Malaysia by approximately 20%, bringing its total to 43,980 beds across 14 properties. The newly acquired property is located on two adjoining parcels of leasehold land covering 9.73 acres, with leases expiring on 31 May 2069. The development consists of 444 apartment-style units across eight five-storey buildings, with a total built-up area of 749,358 sq ft and an approved capacity of 7,974 beds. The first section of the property is already operational and occupied by workers employed in nearby industrial areas. Tenants include companies involved in food manufacturing, chemicals, metals, logistics and other services. Meanwhile, construction of the second section has recently been completed, with leasing expected to begin progressively following the completion of the acquisition. The property is strategically located near Pasir Gudang’s established manufacturing and port facilities, and within five kilometres of the growing Tanjung Langsat heavy industrial corridor. Centurion Corporation CEO Kong Chee Min described the acquisition as an important milestone in strengthening the company’s Malaysian portfolio and supporting its investment commitment to the Johor-Singapore Special Economic Zone (JS-SEZ). “As more manufacturers establish operations in Johor, demand for compliant worker accommodation continues to grow. This asset complements our existing portfolio and positions us to meet that demand,” he said. The acquisition comes as Johor continues to attract manufacturing and industrial investments, creating growing demand for properly managed workers’ accommodation. Centurion Corporation shares closed at S$1.54 on 8 September, declining 1.91% for the day, although the stock had gained 12.41% year-to-date. The latest investment further strengthens Centurion’s position in Malaysia’s workers’ accommodation sector, particularly in Johor’s expanding industrial market.

The Penang state government plans to auction a six-acre plot of land along Gurney Drive in George Town, aiming to raise more than RM300 million to support the completion of the delayed Air Itam bypass project. The land, identified as Plot 7A in Tanjung Pinang Town, is located along Jalan Peter Paul Dason, connecting Gurney Drive to Andaman Island. According to the state government gazette, the public auction was scheduled for 7 October 2026 at Komtar, with a reserve price of RM1,200 per square foot. Vacant land in the surrounding area is currently valued at more than RM1,000 per square foot. Sources cited by The Edge indicated that the land sale could generate over RM300 million, with the proceeds expected to help project concessionaire Consortium Zenith Construction Sdn Bhd (CZC) complete the bypass. The RM851 million project, known as Package Two of Penang’s undersea tunnel and paired roads development, covers approximately six kilometres. It will connect Lebuhraya Thean Teik in Farlim to the Tun Dr Lim Chong Eu Expressway through elevated roads, tunnels and ground-level routes. Construction began in February 2021 after several years of planning and approvals, with the project initially targeted for completion in 2025. However, progress has been affected by land acquisition delays and financial challenges faced by the concessionaire. In May, Penang Chief Minister Chow Kon Yeow clarified that the construction contract was awarded in 2020 and that physical work only began in 2021, despite the project having been discussed since 2012. He also acknowledged that the concessionaire had experienced financial difficulties, which contributed to slower construction progress. Chow dismissed the Covid-19 pandemic as an ongoing justification for the delays, stressing that the project must move forward. The project was granted its first extension of time in 2023 due to land acquisition issues, moving the completion deadline to 31 October 2026. A second extension was subsequently approved, setting a new completion date of 12 April 2027. Penang state executive councillor and Paya Terubong assemblyman Wong Hon Wai recently reported that construction had reached 91% completion. In a Facebook post, Wong said the contractor had assured him that the project would be completed by April 2027. However, he also highlighted that progress at certain sections remained unsatisfactory and called for further intervention from the state government to ensure timely completion. The bypass forms part of a larger infrastructure initiative introduced in 2013, when CZC was selected through an open tender to develop an undersea tunnel and three major bypass roads on Penang Island. The consortium was established as a joint venture between Beijing Urban Construction Group and local company Zenith Construction Sdn Bhd. Under the original arrangement, the Penang government granted the consortium development rights over approximately 45 hectares of land at Gurney Bay in exchange for infrastructure construction, rather than financing the project through toll collection. Federal environmental approval for the three bypass roads was obtained in 2017, followed by an agreement for the second package of works in 2019. Although a groundbreaking ceremony was held in November 2019, actual construction only commenced in February 2021. Once completed, the bypass is expected to significantly improve connectivity between Air Itam and the coastal expressway, potentially reducing travel time to approximately five minutes. The proposed land auction represents another effort by the Penang government to address the project’s funding challenges and accelerate completion of the long-awaited road connection.

Southeast Asian private equity firm Creador, through its philanthropic arm Creador Foundation, has reportedly acquired two historic buildings in downtown Kuala Lumpur — the former RHB building along Jalan Tun H S Lee and Bangunan UOB in Medan Pasar. The acquisitions are part of Creador Foundation’s ongoing efforts to restore and revitalise Kuala Lumpur’s historic city centre. According to sources, the 13-storey RHB building at 75 Jalan Tun H S Lee was acquired for approximately RM30 million, close to its previously reported reserve price. The building holds significant historical value, having originally served as the headquarters of Kwong Yik Bank, Malaya’s first local bank, established in 1913. It was officially opened in 1965 by Malaysia’s first prime minister, Tunku Abdul Rahman Putra Al-Haj. The building later became part of RHB Bank’s history following the acquisition of Kwong Yik Bank by Rashid Hussain Bhd in 1996 and its subsequent merger with DCB Bank in 1997. RHB has announced that its branch at the location will close in January 2027. Meanwhile, Creador Foundation is understood to have purchased Bangunan UOB at 10–12 Medan Pasar, together with two neighbouring shophouses, for slightly less than RM40 million. Both properties are located within Kuala Lumpur’s historic commercial district, where Creador Foundation and its founders’ Alaka Holdings Trust have been actively involved in restoration projects. Sources indicate that Creador has acquired approximately 17 of the 27 buildings in the Medan Pasar area, while the remaining 10 are believed to be leased. The foundation’s revitalisation efforts have also received government support. On 13 August, Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh announced a collaboration between Kuala Lumpur City Hall (DBKL) and Creador Foundation to improve public spaces and rainwater management in Medan Pasar. Since 2024, Creador Foundation has been working to restore heritage buildings around Medan Pasar and Central Market, transforming previously vacant properties into new commercial, cultural and community spaces. Among its completed projects is the restoration of a row of historic shophouses in Medan Pasar, including the Sin Seng Nam corner building, which now houses KLCG Confectionery & Bakery. One of the foundation’s major upcoming developments is the Muara Arts Gallery, a 20,000 sq ft public gallery dedicated to modern and contemporary Malaysian and Southeast Asian art. Located across six restored Art Deco shophouses dating back to the 1930s, the gallery is scheduled to open in November 2026. The nearby Muara Arts Theatre is also under construction and is expected to be completed by 2029. Established in 2018, Creador Foundation was founded by Creador founder and CEO Brahmal Vasudevan and his wife, lawyer Shanthi Kandiah, who founded SK Chambers. Creador, established in 2011, is a Southeast Asian private equity firm known for its investments in companies such as MR DIY, Hock Kee Kopitiam and BIG Pharmacy. According to its website, the firm manages approximately US$3.1 billion (RM12.52 billion) in assets. The latest acquisitions further strengthen Creador Foundation’s role in preserving Kuala Lumpur’s architectural heritage while bringing new business, arts and cultural activities into the historic city centre.

The Penang state government will auction a six-acre parcel of land on Gurney Drive in George Town to raise more than RM300 million to help complete the long-delayed bypass road project linking Air Itam with the Tun Dr Lim Chong Eu Expressway. The land, known as Plot 7A in Tanjung Pinang Town in the northeast district, is located on Jalan Peter Paul Dason, which connects Gurney Drive with Andaman Island. According to the state government gazette, the site will be offered at public auction at 11am on Oct 7 at Komtar. The reserve price has been set at RM1,200 psf, while vacant land in the surrounding area is currently fetching more than RM1,000 psf on the open market. Sources tell The Edge that the sale could generate more than RM300 million, with the proceeds intended to help the project’s concessionaire, Consortium Zenith Construction Sdn Bhd (CZC), complete the bypass. The RM851 million bypass project, also known as Package Two of Penang’s undersea tunnel and paired roads project, stretches approximately 6km. It is intended to connect Lebuhraya Thean Teik in Farlim with the Tun Dr Lim Chong Eu Expressway through a combination of elevated viaducts, tunnels and ground-level roads. Construction began in February 2021 after years of planning and approvals, and was initially expected to be completed in 2025. The project is being undertaken by CZC under Penang Infrastructure Corp (PIC). For years, the promised five-minute commute between Air Itam and the coastal expressway remained just that — a promise. The bypass project has moved at a crawl, and Penangites are starting to suspect that the delays are not purely technical. In May, Penang Chief Minister Chow Kon Yeow denied that the project has been dragging since 2012. He said the contract was awarded only in 2020, before physical works started in 2021. Asked whether the concessionaire had run into financial difficulties due to the Covid-19 pandemic, he said the pandemic was long over. “Covid-19 has already passed. We cannot continue using the same excuse,” he said. Chow confirmed that the concessionaire had faced financial issues that slowed progress on the project. He stressed, however, that work was still ongoing and the completion deadline remained April next year. The project received its first extension of time (EOT) in 2023, after land acquisition processes affected key stretches of the alignment, extending the deadline to Oct 31 this year. A second EOT was approved in the middle of last year, pushing the completion date to April 12 next year. Penang state executive councillor and Paya Terubong assemblyman Wong Hon Wai said in a recent Facebook post that the project had reached 91% completion and remains on track to be completed next year. He said the contractor had assured him the project would be finished according to schedule on April 12, 2027. He noted, however, that progress at the other end remained far from satisfactory, adding that intervention from the state government was needed at this juncture. In 2013, CZC was selected through an open tender to construct an undersea tunnel and three main bypass roads on the island. The consortium, formed a year earlier, is a joint venture between Beijing Urban Construction Group — known for its work on venues for the 2008 Beijing Olympics — and local firm Zenith Construction Sdn Bhd. Instead of funding the project through tolls, the state government granted CZC exclusive development rights over roughly 45ha at Gurney Bay, in a deal that effectively swapped infrastructure for property development. Federal environmental approval for the three bypass roads came in 2017. Two years later, the Penang government signed an agreement for the second package of works, followed by a groundbreaking ceremony in November that year. Actual construction did not begin until 2021, with completion now targeted for 2026.