Paragon Globe Berhad (PGB) announced that it has signed an agreement with UOB Malaysia for a RM176 million loan to facilitate PGB’s first green industrial park in Gerbang Nusajaya, Johor, called the PGB TECH PARK @ NUSAJAYA, marking a major milestone in PGB’s commitment to sustainable industrial solutions. The loan will provide the necessary funding for the development of the green industrial park, which aligns with PGB’s sustainability journey.
During the ceremony attended by key representatives from PGB and UOB Malaysia and witnessed by Datuk Seri Utama Ir. Hasni Bin Mohammad, Chairman of the Johor Sustainability Centre, PGB has also signed a Memorandum of Understanding with UOB Malaysia to accelerate its sustainability agenda and to develop future green building projects. The MoU was signed by Dato’ Sri Edwin Tan Pei Seng, Executive Chairman of PGB, and Andy Cheah, Managing Director and Country Head, Wholesale Banking of UOB Malaysia.
Under the MoU, UOB Malaysia will support PGB as they embark on their sustainability journey by providing advisory services and tailor-made financial solutions for future green building projects. Both parties will leverage their respective strengths and expertise to integrate sustainable financing frameworks and create customized solutions to help end-buyers, purchasers, or tenants of the green industrial park to decarbonise and transition to net zero.
During the ceremony, Edwin Tan said, “PGB is committed to pursuing sustainable development. We are immensely grateful to UOB Malaysia for their support and confidence in our vision.”
“We are also excited to announce that we will embark on the development of our first serviced apartment in Johor Bahru city centre through our wholly owned subsidiary, PGB Iconic Sdn. Bhd., earmarking for Green RE Gold certification,” he added.
PGB’s first green industrial park earmarks for Green RE Gold Certification in Johor
PGB plans to develop its first green industrial park, earmarking for Green RE Gold certification – PGB TECH PARK @ NUSAJAYA, through its wholly-owned subsidiary, PGB Landmark Sdn. Bhd. It is strategically located at Gerbang Nusajaya, Johor, on a 115.90-acre freehold land.
The Techpark is poised to be within the prime industrial zone of upcoming Johor-Singapore Special Economic Zone (SEZ). The proposed development will commence in two phases, with a total gross development value of RM957 million. It will be the First Green Industrial Park in Johor to attain GreenRE Gold certification.
Phase 1, consisting of 88 units of factories, is expected to commence in 2025 and be completed in 2027. The GDV of phase 1 is estimated to be approximately RM419.1 million. Phase 2, comprising 8 units of factories and 1 dormitory with 350 rooms to accommodate up to 5,250 workers, is expected to commence in 2026 and be completed in 2028. The GDV of phase 2 is estimated to be approximately RM537.9 million.
