By Nabiha Safian (New Straits Times (NST) Malaysia) – April 11, 2025 @ 5:07pm
KUALA LUMPUR: Real estate advisory firm AREA Group of Companies has inked a US$20 billion (about RM88.49 billion) investment agreement with a Chinese entity for the development of twin industrial zones in Malaysia and China.
This follows a memorandum of understanding signed between the group’s subsidiary AREA Real Estate Advisory Sdn Bhd and the Shenzhen Government Procurement Association, the company said in a statement today.
Executive chairman Datuk Stewart LaBrooy said the project, dubbed “Two Countries, Two Parks”, is a flagship collaboration under China’s Belt and Road initiative, reflecting the shared commitment between both nations.
“This flagship project will redefine industrial collaboration, introduce the latest industrial park concepts, and unlock unprecedented opportunities for growth by encouraging technology exchange and deeper cooperation between Malaysia and Shenzhen,” he added.
The key locations for this initiative include the Pentas Industrial City in Kedah and COMPASS @ Kota Seri Langat in Selangor.
AREA will serve as the investment manager for the COMPASS joint venture, which also involves key stakeholders, including MIDF Property, KWEST Sdn Bhd and Kumpulan Wang Persaraan (Diperbadankan).
The initiative is expected to drive employment, green tech transfer and infrastructure development, while also laying the groundwork for deeper economic integration.
Additionally, it is also designed to leverage China’s supply chain strength, alongside Malaysia’s strategic position in the region under national initiatives like Industri MADANI and the New Industrial Master Plan 2030.
#China #Malaysia #KumpulanWangPersaraan #IndustrialPark #NewIndustrialMasterPlan2030 #AreaGroup
Published by NST April 11 2025 – https://www.nst.com.my/business/corporate/2025/04/1200511/area-group-inks-us20bil-pact-china-twin-industrial-zones