Malaysia – A Strategic Logistics Acquisition: RM300 Million Acquisition Of Penang Logistics Hub 5 By Pelaburan Hartanah Berhad.

Zul Rafique & Partners is pleased to announce that our Corporate Real Estate Practice Group successfully advised and acted for Pelaburan Hartanah Berhad (“PHB”) on a proposed acquisition of “Penang Logistics Hub 5” (comprising approximately 28,562.8 square metres of land and a purpose-built three (3) storey logistic commercial complex with a gross floor area of approximately 300,726 sq ft.) located in Bayan Lepas, Penang, from Titijaya Land Berhad (“Titijaya”) for a consideration of RM300 million.

The transaction was led by our Partners, Ainal Marlinda Md Said, and Nuramira Syahida Mazlan of the Corporate Real Estate Practice Group together with our Legal Associate, Abdul Rahman Zakaria.

We are pleased to have assisted PHB in this significant acquisition, which reflects the continued strategic importance of quality, income-generating logistics assets in Malaysia and the growing demand for industrial and logistics properties. The successful completion of these transactions reaffirms the Firm’s continued commitment to delivering strategic, solutions-oriented legal counsel to its clients, and further underscores the depth of experience and capability of its Corporate Real Estate Practice Group in managing complex, high-value, and multi-faceted matters of this nature.

We congratulate the client on the successful signing of the sale and purchase agreement and related documents for this transaction and remain committed to delivering practical, commercial and solutions-oriented advise on complex real estate matters.

Our Corporate Real Estate team regularly advises developers, corporate landowners, government-linked entities and private clients on acquisitions, disposal, leases, tenancies, property development, financing documentation and related conveyancing matters across residential, commercial, industrial and specialised asset classes.

The Bursa announcement can be accessed HERE.

This deal update was also featured in:-

1. The Edge
2. New Straits Times
3. EdgeProp
4. The Star
5. Kosmo
6. Berita Harian