SUNGAI BULOH: AME Elite Consortium Bhd expects its RM1.3 billion i-Park@Coalfields industrial park in Selangor to be fully developed over the next seven years, with completion targeted around 2033.
Group CEO Dylan Tan Teck Eng said the 151.2-acre development would be rolled out over seven to eight years, describing that as the typical development cycle for an industrial park.
“Generally, we are planning this industrial park to be fully developed over the next perhaps seven or eight years. That’s the typical cycle of an industrial park,” he told reporters after the project’s soft launch today.
The first phase has an estimated gross development value (GDV) of more than RM200 million and comprises 34 ready-built semi-detached factory units priced between RM6.5 million and RM7 million each.
The project is being developed by Central Gateway Development Sdn Bhd, a 60:40 joint venture between AME Elite and KLK Land Sdn Bhd.
Tan said the company has secured one confirmed booking for Phase 1, while another potential buyer expressed interest during the preview, although he declined to identify the parties.
He acknowledged that sales in a new market typically take time to gain traction, citing the company’s experience following its expansion into Penang in 2024.
“When we first went to Penang, it took a while. We launched our Penang project in October 2024. Usually, once our show unit is up, the interest will come in a lot faster,” he said.
Tan expects a similar trend in Selangor, with demand picking up after prospective buyers are able to visit the completed show units.
“Selangor, we are new, so we are very excited. Usually, once our show unit is up, the interest will come in a lot faster. People will be very impressed with the way we design our factories and the way we master-plan the entire development,” he added.
Looking beyond Phase 1, Tan said demand is expected to strengthen from the third year as subsequent phases are rolled out.
He said the Selangor project forms part of AME’s strategy to establish a presence across Peninsular Malaysia’s three major economic regions after expanding into Penang.
“Johor is our home ground. If you look at Peninsular Malaysia, the three major regions will be the Central, Northern as well as Southern.
“It is just natural that now is the time to expand into every region. Every region we go to, we plan to stay,” he said.
Tan said the company intends to deepen its presence in every region it enters, with further expansion in the Klang Valley if i-Park@Coalfields performs well.
“Once we start the development, we will start building teams in different regions. Once you establish a team, you should continue to expand your business there.
“Selangor is a much bigger market compared to Johor and is the largest economy in Malaysia. So the plan is to continue to expand to the next one when the right time comes,” he said.
Tan said the group’s expansion strategy is intended to drive stronger revenue growth.
“Over the past few years, we have grown our revenue from RM500 over million all the way to the recent financial year, about RM965 million. Going forward, we are hoping to keep on pushing the revenue to cross the RM1 billion mark,” he said.
