IJM expands with warehousing investment in Malaysia and UK property acquisition

PETALING JAYA: IJM Corp Bhd has announced two significant property developments – an additional investment in Malaysia’s warehousing logistics sector and the acquisition of a property site in the United Kingdom (UK).

The conglomerate, in a statement, said its wholly-owned subsidiary, IJM RE Sdn Bhd, has signed a share sale agreement with Swift Haulage Bhd and Hartamas Mentari Sdn Bhd for the acquisition of a a 25% stake in Global Vision Logistics Sdn Bhd (GVL) which is developing the Shah Alam International Logistics Hub (SAILH).

SAILH, set to be one of ASEAN’s largest and Malaysia’s first green-certified logistics hub, is strategically located on a 71-acre site in Shah Alam.

IJM said the first phase of SAILH, which commenced construction in

September last year, includes a four-storey warehouse complex, multi-level parking and office space with ancillary buildings.

Scheduled for completion in 2025, the facility will provide 2.8 million sq ft of space. Plans for the second phase are underway, bringing the total warehouse space to about six million square feet when all phases are completed.

IJM’s SAILH investment follows a RM653.6mil construction contract win by its construction arm, IJM Construction, in June last year, and showcases the synergies between the group’s construction and property repertoire. This move also paves the way for potential future involvement in the project’s next phase.

Group chief executive officer and managing director Lee Chun Fai said its investment in GVL and SAILH is a strategic move to address the increasing demands of the logistics sector, spurred by e-commerce growth and supply chain diversification.

“This decision not only expands IJM’s industrial property portfolio, focusing on high-value assets that generate recurring income, but also reflects our expertise in infrastructure and construction.

“By integrating our investment strategies with hands-on project execution, we are enhancing our ability to meet diverse industry demands, further establishing IJM as a versatile solutions provider across diverse industries,” he said.

Separately, IJM’s property arm, IJM Land has acquired the freehold interest of the historic Shredded Wheat factory site in Welwyn Garden City, a key commuter town in Hertfordshire County that is ideal for redevelopment.

“The move is part of IJM Land’s UK expansion strategy, building on the success of the Royal Mint Gardens project in Central London and its partnership with Network Rail,” it said.

The 11-acre brownfield site, known as The Wheat Quarter (North Site), has been approved for 811 homes and 150,000 square feet of mixed-use space. This development will feature a well-planned park and integrate the site’s original 1920s architecture, including Grade II listed structures, offering a residential-led, community-focused design.

IJM said the site, situated near Welwyn Garden City train station, offers easy access to London, with King’s Cross Station just 28 minutes away by train.

“The acquisition allows us to merge the site’s historic character with contemporary design, fostering a vibrant community space that meets today’s urban needs.

“Our team’s familiarity with the site combined with IJM Land’s track record of urban redevelopment in the UK positions us well for the successful delivery of this project,” Lee said.

“These investments in Malaysia and the UK reflect our strategic vision to strengthen IJM’s footprint in the logistics sector and international property development. We are committed to delivering innovative and sustainable solutions in these key markets,” he added.