Teladan Group to build 138ha German Technology Park in Jasin, Melaka
22 Mar 2024
Teladan Group Bhd’s subsidiary Riverwell Resources Sdn Bhd (RRSB) has signed a memorandum of understanding (MoU) with Melaka Corporation (MCORP) to develop a 138 hectare (ha) German Technology Park at Ayer Panas, Jasin, Melaka.
The Melaka-based property developer said the proposed project aims to attract German investment into the state of Melaka and strengthen Malaysia-Germany economic ties.
It encompasses various industrial developments, including industrial bungalow lots, semi-detached factories, shop offices, and centralised labour quarters.
Under the MoU, Teladan said both parties will collaborate on feasibility studies and development planning of the proposed project.
It added that the agreement seeks to leverage on the construction expertise of Teladan and its landbank located along Jalan Gapam.
At the same time, MCORP will lead the development and sales of the proposed project.
Teladan managing director Richard Teo Lay Ban said with a proven track record of developing over RM2.9 billion in combined gross development value (GDV) across residential, commercial, and industrial projects, the company is confident in its contribution to this project’s success.
“Looking ahead, we are optimistic about Melaka’s economic trajectory, driven by the 2024 Budget’s focus in enhancing Melaka’s competitiveness, alongside the government’s commitment to positioning the state as a global tourism hub and trade and investment centre.
“With Teladan’s deep experience in Melaka, we are well-positioned to explore new development opportunities and unlock significant long-term commercial value,” it said in a statement.
Melaka chief minister Datuk Seri Utama Ab Rauf Yusof said this collaboration strengthens Malaysia’s position as a preferred investment destination within Asean and deepens economic ties with Germany.
He added that the proposed project aligns with the government’s economic growth initiatives by promoting industrial advancement and attracting high-tech industries to Melaka.
“By leveraging on Malaysia’s strategic location in Southeast Asia and its robust infrastructure, we aim to drive Melaka’s industry, business, and trade forward.
“The proposed project represents a significant step towards advancing international trade activities, creating job opportunities, and broadening the country’s market access.
“At MCORP, we are committed to supporting Malaysia’s economic growth and development,” he said.
This project builds on the robust trade relations between Malaysia and Germany, which have flourished significantly over the past decade.
Germany has remained Malaysia’s top trading partner in the European Union, while Malaysia is now Germany’s largest trading partner in Southeast Asia.
Furthermore, Malaysia continues to be an attractive destination for foreign direct investments (FDIs) with German companies investing €8.5 billion (RM43.61 billion) as of 2023.
As of Dec 31, Teladan holds a total of 433.6 ha of undeveloped landbank, with a significant portion located in Melaka with a potential GDV of RM2.7 billion.
Source: NST
