Petaling Jaya: Equalbase, a real estate group specializing in sustainable commercial and industrial logistics development in Asia, has invested RM300 million in its first carbon-neutral logistics facility in Val d’Or, Seberang Perai, Penang.
Spread over approximately 4.6 hectares and with a total floor area of over 600,000 square feet, Baldor 1 is more than 50% more energy efficient than the average Malaysian warehouse due to Equalbase’s use of construction materials such as carbon-cured concrete. Achieve energy efficiency levels. This technology injects waste carbon dioxide (CO2) into concrete to increase its compressive strength, reducing CO2 emissions by 30%.
The goal is to neutralize carbon emissions in the body for 40 years, with the potential to generate 4,620 MWh of solar energy per year.
Paul Lee, Equalbase Executive Director and Northmod Managing Partner, said: This development stands out for its commitment to sustainability and is in line with our aim to achieve carbon neutrality across all our developments by 2040 and exceed standard benchmarks by 10 years. ”
He added that the focus on Penang is strategic as the state has a thriving investor-friendly economy with a diverse presence of companies in an established global business services environment. .
Scheduled for completion in the second quarter of 2025, Val d’Or I is located approximately 6 km to Batu Kawan Industrial Park and just over 30 km to Penang International Airport, with good connectivity to the North-South Expressway and Penang 2nd Bridge.
Founded in 2009 and headquartered in Singapore, Equalbase is known for its expertise in developing high-quality commercial and industrial logistics facilities in Asia. Together with integrated fund manager Northmod, the company has expanded into Malaysia, Singapore, South Korea, Germany, Indonesia and Vietnam.
Equalbase and Northmod are confident in expanding their investments not only within Penang but also across Malaysia through strategic investments through their property development fund Amberrock Malaysia Pte Ltd.
The company has so far invested US$400 million (RM1.9 billion) and completed over 4 million square feet of warehouse space in Malaysia.
Last November, Equalbase and Sunway Group held a groundbreaking ceremony for a carbon-neutral free commercial zone in Sunway City Iskandar Puteri, Johor.