Singapore-based Equalbase breaks ground for RM220 mil warehouse in Penang, secures logistics company DSV as anchor tenant

• Valdor II, which will have a gross floor area of 620,000 sq ft, is expected to be completed in 2025.

KUALA LUMPUR (Sept 27): Singapore-based Equalbase Development Pte Ltd, which specialises in the development and management of industrial assets, held the groundbreaking ceremony of Valdor II, a RM220 million multi-storey warehouse in Penang, on Thursday (Sept 26).

According to a press statement on Friday, logistics company DSV has been confirmed as the anchor tenant of Valdor II.

Valdor II, which will have a gross floor area of 620,000 sq ft, is expected to be completed in 2025.

Equalbase chief executive officer Nicholas Bischoff said in a statement: “We are excited to expand our footprint in Penang with the launch of our Valdor II project. This is another step forward in our journey to become the leading provider of carbon-neutral industrial assets in the region. We are grateful to have a partner with us who shares our commitment to sustainability and to build this facility for DSV.”

DSV Solutions Malaysia managing director Chin Pee Ching added: “The construction of Valdor II is DSV’s commitment to meet the evolving needs of our customers. In today’s fast-paced world, adaptability, efficiency and protecting the environment have become increasingly important. This warehouse will not only enhance our operational capabilities but will also enable us to better serve the diverse requirements of our customers across various industries while making a positive impact on the environment.”

Valdor II will be built with low-carbon construction materials and energy-efficient technologies. It is also targeted to achieve a LEED Gold and GBI Gold certification.

It will also be accessible to other growing industrial areas such as Batu Kawan and Bayan Lepas.

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