Mitsui Fudosan




Mitsui Fudosan Decides to Participate in the Kulim Logistics Hub Project, Its First Logistics Facility Project in Malaysia Second Logistics Facility Project in Southeast Asia after Thailand Overseas Expansion of the Logistics Business

Tokyo, Japan, August 4, 2023 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has made the decision to participate in the Kulim Logistics Hub logistics facility project (total floor area of approx. 36,000 m2 (of which, approx. 22,000 m2 in phase 1 and approx. 14,000 m2 in phase 2 (planned)) located in the Kulim district of Kedah, Malaysia. Mitsui Fudosan has accordingly entered into a joint venture agreement with PKT Logistics Group Sdn Bhd (“PKT”), a major logistics company in Malaysia, through Mitsui Fudosan (Asia) Malaysia Sdn. Bhd. (“Mitsui Fudosan Malaysia”), located in Kuala Lumpur. The Project is to be promoted through KULIM LOGISTICS HUB SDN. BHD., a joint venture company with PKT and Mitsui Fudosan Malaysia. This constitutes the first time Mitsui Fudosan Group has ever been involved in a logistics facility project in Malaysia.



Malaysia has a highly promising market for Mitsui Fudosan’s logistics business given prospects of mounting demand for logistics facilities going forward, which is due to factors that include ongoing growth in the nation’s population and economy, as well as a high trade volume level comparable to that of Thailand.



As a major locally-based logistics company and a joint venture partner of the logistics facility project, PKT has an extensive range of customers in Malaysia along with a track record encompassing numerous accomplishments when it comes to logistics facility development. The Mitsui Fudosan Group will forge ahead with the project in partnership with PKT, thereby fully leveraging expertise it has gained in logistics facility development both in Japan and overseas.



The logistics facility project is located along the Butterworth-Kulim Expressway (BKE), which offers convenient access to Penang Port and Penang International Airport. It is also situated in close proximity to Kulim Hi-Tech Park (KHTP), which serves as a hub for electrical and electronic industry factories centered around semiconductors, as well as automotive-related factories. We will consider options and promote development that aligns with such site-specific attributes and also with demand from prospective tenant enterprises. We furthermore plan to set up on-premise amenities geared to employee convenience, including a cafeteria and fitness center.



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