PETALING JAYA: The real estate and infrastructure arm of Johor Corporation (JCorp), JLand Group Sdn Bhd has inked a memorandum of understanding with biotechnology powerhouse ALPS Global Holding Bhd (ALPS) to develop a biotechnology hub at Ibrahim Technopolis (IBTEC) in Sedenak, Johor.

In a joint statement, both companies said the impending development of the biotechnology hub is anticipated to generate an estimated gross development value (GDV) of RM980 million and the global biotechnology market is set to skyrocket towards an estimated value of nearly four times its 2020 figure, by 2030.

The collaboration between both parties is anticipated to emerge as Malaysia’s strategic initiative is to seize on this unparalleled growth trajectory.

It said the state-of-the-art research hub is primed to tackle the most pressing challenges in healthcare, including vaccine manufacturing and development, genomics, regenerative medicines, immunotherapy, and gene editing.

JCorp director of real estate and infrastructure Akmal Ahmad said the collaboration would signify a milestone in biotechnology innovation on the global stage, fostering a thriving ecosystem conducive to pioneering research, knowledge exchange, and economic advancement.

“The biotechnology hub will revolutionise the sector and serve as a significant addition to our established data centre hub and upcoming artificial intelligence (AI) hub,” he said.

Furthermore, Akmal, who is also the deputy chairman of JLand, said it would unite new-age industrialists, digital pioneers, and lifelong learners in an advanced environment engineered for sustainable growth aligned with the New Industrial Master Plan 2030 and the National Energy Transition Roadmap.