Latest Project Highlights
 
Kensington Gardens, Jesselton, Penang
  Call our sales professionals : Max Wong +60 16 412 5582 Edwin Ong +6012 402 3155 Cheng Li Pin +6012 514 0836...
TROPICANA THE RESIDENCES @ KLCC
Henry Butcher Real Estate Penang is pleased to announce its appointment as the Sole & Exclusive Marketing Agent,...
Moulmein Rise Luxury Suites, Penang
  Moulmein Rise, luxury suites located in the heart of Pulau Tikus, Penang. Location : 5 mins walk to Gurney...
Setia V Residence, Gurney Drive
There are those who live, and those who live well. At Setia V Residences, you’ll take your place among an...
The Coastal, Batu Maung, Penang
LIfe is complete at The Coastal. An integrated development at the futuristic award-winning Southbay City. The...
The Rice Miller City Residences & Hotel
   The Rice Miller City Residences & Hotel, located in the heart of George Town Unesco Heritage Site...
Rice Miller City Residences
                               ...
The One, Penang Cyber City
CAPTURING IMAGINATION REALIZING DREAMS Unique, Unequaled and cutting edge, The One is gearing up to be one of the...
One One Eight @ Island Plaza
One One Eight @ Island Plaza A Seamless Style of Living 118 @ Island Plaza takes its cue from the energy, vivacity...
New high-end luxury condominium in Penang island

IKEA to set up RM908 mil regional hub in Malaysia

KUALA LUMPUR (Aug 23): The world’s largest furniture retailer IKEA will invest RM908 million to set up a regional distribution and supply chain centre in Malaysia to serve the Asean market.

The centre will adopt the structure and technology of IKEA’s biggest regional distribution centre in Germany and will be one of the company’s largest regional distribution centres globally, the Malaysian Investment Development Authority (Mida) said in a statement yesterday.

The new 100,000-sq m specialised warehouse will serve IKEA’s 12 retail stores in Asean. IKEA plans to increase its presence to 20 stores in this region by 2026.

“IKEA’s decision in selecting our country as a base to support retailers in Malaysia, Singapore, Thailand, Indonesia, Vietnam, the Philippines and India underscores Malaysia’s strategic fit in supporting IKEA’s overall growth strategy in the Asean region,” said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

 

Since May 2015, Mida has approved 26 PH projects, which it said will contribute RM16.8 billion in business spending over the next decade.

The Edge Property