Michael (second left) and M Ryann (second right) holding the signed documents while flanked by Audrey (left) and Rainie (right).
PETALING JAYA: MRT Group Bhd, via its subsidiary TST Land Sdn Bhd, has acquired 12.82 acres of industrial land in Rawang for a cash consideration of RM24mil. Located at Rawang Perdana, the freehold parcel is only 1km away from the Rawang town centre and is accessible via the LEKAS highway and the ECRL.
The group, represented by its founder, executive chairman and chief executive officer Datuk Paduka M Ryann Tan, entered into a sale and purchase agreement with the landowner, represented by Faidz, Leong and Chong lawyer Lee Sheak Fong.
Lee and M Ryann signing the sale and purchase agreement.
Also present at the signing ceremony were MRT Group executive director and finance head Datin Paduka Rainie Tan, co-founder, executive director and chief operation officer Michael Tang Wai Kit and co-founder, executive director and chief marketing officer Audrey Tan Chaw Hui.
“This is MRT Group’s most significant land acquisition in the company’s history. It has marked a milestone in our journey as a property developer. We have made a number of purchases on land parcels that are owned by other prominent developers but this one marks a significant point in our company’s journey,” said Tan.
“We are excited to see how the project runs. The core concept that drove us to make this purchase was to meet the rising demand for factories in Malaysia. There has been a significant imbalance between the supply and demand for factories here, and prices have been high for those seeking to purchase a commercial lot. MRT Group promises to offer our Industrial Park factories at Rawang Perdana at affordable prices.
“We wish to do our part in supporting the supply of factories after the Malaysian economy struggled the past few years. We hope that our newest projects will help ease the burden of business owners, especially those in the manufacturing business who have struggled to afford decently-priced factories,” said Tan.
On MRT Group’s upcoming projects, Tan mentioned that he and his team are definitely looking to expand their real estate portfolio in the near future. The group already has plans underway for a residential high-rise condominium in the Seputeh district. Though the specific location has yet to be determined, they are set on proceeding with their purchase.
MRT Group is also thinking of venturing into sustainable developments, which is still a relatively new concept in Malaysia that was introduced during the pandemic. According to the Sustainable Development Report 2023, Malaysia ranked 78th out of 165 countries with an SDG Index of 69.8%.
Audrey is confident that it will be a worthwhile investment that will boost Malaysia’s ranks towards reaching its Sustainable Development Goals.
“We are definitely considering adding sustainability-focused real estate into our portfolio. Not only will it be beneficial for our environment but it is also a positive rising trend among Malaysian real estate developers and MRT Group is willing to invest in its concept. We will do whatever we can to ensure the process is as seamless and smooth sailing as possible,” she said.
The new Industrial Park factory lots at Rawang Perdana are estimated to be ready by 1Q 2024.
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