Setia Awan launches RM1.4 bil Tanjong Malim Hi-Tech Park in Perak
Setia Awan Land has launched its first industrial project, the 447-acre Tanjong Malim Hi-Tech Park in Perak, with an estimated gross development value of RM1.4 billion. Phase 1 has achieved 50% take-up, with investments from Ningbo Fresh Technology and Sheentech Automotive Systems totaling about RM5
PETALING JAYA (Sept 21): Setia Awan Land Sdn Bhd has launched its first industrial development, the 447-acre Tanjong Malim Hi-Tech Park in Perak, with an estimated gross development value (GDV) of RM1.4 billion.
Setia Awan director Datuk Marcus Doh said at the launch on Monday that investments by Ningbo Fresh Technology Co Ltd and Sheentech Automotive Systems Sdn Bhd in the park would amount to up to about RM500 million. The development, located near Proton City and within the wider Automotive High-Tech Valley (AHTV) growth corridor, comprises industrial land, a commercial component and supporting facilities.
Phase 1 spans 104 acres and offers infrastructure-ready industrial parcels starting from five acres for sale or lease. Setia Awan said the phase has achieved a 50% take-up rate, with Ningbo Fresh Technology and Sheentech Automotive Systems among its confirmed investors. Ningbo's investment includes an additional RM263 million announced in May to expand its Tanjong Malim operations at the hi-tech park to serve domestic and export markets.
Doh said Setia Awan is also exploring the development of standard-built factories in future phases in response to businesses' evolving requirements. “Our vision for Tanjong Malim Hi-Tech Park is to build an industrial ecosystem that supports businesses over the long term, with the infrastructure, commercial amenities and supporting services they need to establish, operate and grow,” he said.
The project marks Setia Awan's diversification into industrial property after more than three decades in residential and mixed-use development. Doh said the company sees opportunities arising from the expansion of the automotive and manufacturing ecosystem in Tanjong Malim, including demand from manufacturers, suppliers, technology companies, logistics providers and service businesses.
The launch also included Ionera, a 27-acre commercial component comprising 168 units intended to provide food and beverage, retail and other services for businesses, workers, visitors and the surrounding community. Setia Awan said Ionera has received more than 100 registrations and bookings since opening for registration. The developer signed a memorandum of understanding (MoU) with Billion Group as Ionera's anchor tenant on Sept 17. Further MoUs with tenants in the services, food and beverage and healthcare sectors were formalised at Monday's launch.
Tanjong Malim Hi-Tech Park is also expected to provide electric-vehicle charging infrastructure with a combined capacity of five megawatts through a collaboration with an EV charging provider.
Perak Menteri Besar Datuk Seri Saarani Mohamad, who officiated the launch, said Tanjong Malim was evolving from its traditional role as an education centre into an automotive and industrial location anchored by Proton and the development of AHTV. He said the expansion of the automotive industry would generate demand beyond factories, including from vendors, component manufacturers, technology providers, logistics businesses and other supporting services. This would in turn create demand for industrial, commercial and residential development and other facilities, he said.
Saarani said the state had identified the Muallim and Batang Padang districts in southern Perak as its automotive hub under the Perak Sejahtera 2030 plan. He said private-sector investment was needed to complement government policies, infrastructure and investment facilitation as the industrial ecosystem develops. “When a company such as Setia Awan Land decides to develop a large-scale industrial park here, I see it as part of that process,” he said.
Meanwhile, Perak tourism, industry, investment and corridor development committee chairman Loh Sze Yee said federal investment incentives were generally administered through the Malaysian Investment Development Authority (Mida), while state-level incentives could involve matters under state jurisdiction, including land premiums, quit rent and assessment rates. Such incentives are considered on a case-by-case basis, taking into account factors including the size of the investment and types of jobs created, he said. Loh said the state also provides investment facilitation through InvestPerak and the Muallim Speed Lane. He said complete applications had in some cases secured approvals within a month, including instances where approvals were obtained within two weeks.
