At a glance
- Matrix projects RM1.071 billion in industrial development value, alongside RM609 million residential and RM420 million commercial components.[1]
Land and development mix
EdgeProp’s 2 November report describes a clarification filed by Matrix Concepts on 30 October. The plan concerns 57 parcels of freehold agricultural land at Tempat Sengkang, Mukim Senai, Kulai, covering about 174.77 hectares.[1]
Subsidiary Matrix Concepts (Southern) proposes to acquire the land for RM169.31 million, approximately RM9 per sq ft. The disclosed appraised value is RM206.94 million, based on a September valuation by Henry Butcher Malaysia (Johor).[1]
Planning remains preliminary
The acquisition has yet to complete. Development costs, approvals and construction dates remain undetermined, and the group plans an internal feasibility assessment after completing the land purchase.[1]
The proposed purchase financing includes approximately RM143.9 million in bank borrowings, representing 85% of the consideration, with the balance from internal funds.[1]
Why it matters
The projected gross development value is an estimate of future sales value. It is not a construction budget, profit forecast or confirmation that the proposed uses have secured planning approval.
Sources & further reading
- Matrix Concepts projects RM1.07b industrial GDV in Kulai ↗EdgeProp Malaysia · 2 Nov 2026 · Accessed 3 Nov 2026
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