KUALA LUMPUR (May 20): Matrix Concepts Holdings Bhd (KL:MATRIX) has concluded an industrial land sale to Golog Holdings Sdn Bhd to incorporate cold chain infrastructure into its MVV City development within the Malaysia Vision Valley 2.0 corridor, according to a press statement issued on Wednesday.

The infrastructure transaction follows a prior memorandum of understanding executed by Golog to develop 618 acres of industrial land across three phases, carrying an estimated gross development value of RM8 billion.

When queried about the transacted price, both parties mutually agreed not to disclose the commercial value and detailed transaction structure at this time.

The collaboration was due to the efforts by the master developer to invite strategic industrial and logistics entities to establish their presence within the region.

Golog intends to utilise the acquired property to introduce temperature-controlled storage, warehousing and distribution capabilities.

The upcoming facilities will cater directly to rising market demand across food processing, pharmaceuticals, e-commerce, logistics and import-export trade.

The operational expansion aligns with broader regional connectivity via the China-Malaysia Air Silk Road Dual Hub Industrial Park Cooperation Project, leveraging strategic partnerships with China Henan Aviation Group Co Ltd and Sichuan Huashi Group Corp Limited.

MVV City is a 2,382-acre integrated development jointly driven by Matrix Concepts Holdings Bhd and the Negeri Sembilan State Government through NS Corp, targeting a gross development value of RM15 billion over the next 12 years.