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Singapore’s Equalbase and Sunway Collaborate on ASEAN’s First Carbon-Neutral Commercial Zone

November 30, 2023
SME Asia
5 mins read

Equalbase, a Singapore-headquartered real estate group specialising in sustainable commercial and industrial logistics facilities, and Sunway, one of ASEAN’s leading conglomerates, jointly held a groundbreaking ceremony for 103°, a RM8 billion (S$2.28 billion) development of sustainable Free Commercial Zone for the logistics industry in Sunway City Iskandar Puteri, Johor.

Spanning 135 acres / 55 hectares, 103°, will be the first fully carbon-neutral free commercial zone. The integrated warehouses will also be equipped with rooftop solar panels to generate sufficient electricity, fostering a greener future.

As part of its sustainability commitment, Equalbase Sunway 103°, will strive to attain prestigious certifications such as Malaysia’s Green Building Index Gold rating. This underscores Equalbase and Sunway’s desire to promote the highest environmental and sustainability standards.

The gross development value of RM8 billion highlights the significant growth projected over a span of ten years. This mission is further propelled by Northmod, Equalbase Group’s comprehensive investment management division.

Guest of Honour, Dato Onn Hafiz Ghazi, Menteri Besar of Johor, graced the groundbreaking ceremony in Sunway City Iskandar Puteri, highlighting the significance of this milestone in sustainable building.

The development will be built in four phases, with Phase One scheduled for completion by 2025.

Sunway Group founder and chairman Tan Sri Dato’ Seri Sir Jeffrey Cheah KBE AO said, “Sunway is committed to making Sunway City Iskandar Puteri the centrepiece of Malaysia’s southern development corridor and cementing Johor’s status as one of the most economically advanced states in Malaysia.

“This latest addition to the vibrant ecosystem of our integrated township here is set to create at least 13,000 job opportunities for the people of Johor and achieve gross development value amounting to more than RM 8 billion”.

Nicholas Bischoff, CEO of Equalbase, said, “Equalbase and Sunway Group share a common vision to build sustainable developments for the betterment of future generations.

“The project 103° in Sunway City Iskandar Puteri’s Free Commercial Zone signifies shared achievements, meaningful collaboration, and a deepening connection with our customers and partners. We are therefore very privileged to have Sunway, as our Joint Venture partner for this first-of-its-kind sustainable development.”

The development is expected to cater to a diverse range of industries in the region, including FMCG (Fast Moving Consumer Goods), retail, e-commerce, automotive, pharmaceutical and technology.

Situated five kilometres from the Second Link to Singapore, the facility’s strategic location lends itself as a key hub for sustainable space, contributing to the growth of both regions and catering to clients across ASEAN. This geographical advantage further establishes 103° as a focal point for sustainable logistics activities.