KUALA LUMPUR: ISP Group of Companies is acquiring an industrial property in Plentong, Johor, for RM35.1 million, strengthening its commitment to expanding its industrial real estate portfolio by investing in high-potential locations.
The property, situated in Taman Perindustrian Cemerlang, includes an estimated associated cost of RM1.8 million. The transaction is expected to be completed within three months, with an optional one-month extension if required.
Eric Ng, founder and group chief executive officer of ISP Holding, said that this acquisition reflects the group’s ongoing efforts to strengthen its presence in the industrial real estate sector.
“The property’s strategic positioning within Plentong’s industrial hub makes it an ideal choice for logistics, manufacturing, and warehousing businesses. Upon completion, we will actively seek tenants for the property, capitalising on the demand for strategically located, modern industrial spaces,” he said in a statement.
The property comprises a single-storey detached factory/warehouse with an annexe double-storey office building. It offers a gross floor area of 123,000 square feet, including 116,542 square feet dedicated to production and warehousing and 6,458 square feet allocated for office space.
The facility comes with an open loading area capable of accommodating up to ten 40-foot containers.
Meanwhile, Ng said that ISP has completed the sales and purchase agreements for the acquisitions of four industrial assets with a total cost of RM188.5 million, further solidifying its presence in Malaysia’s industrial real estate market.
“Looking ahead, we are also exploring potential new acquisitions of industrial properties worth at least RM500 million, underscoring our commitment towards sustainable growth and strategic expansion,” he concluded.
Source: NST, March 24 2025