L&G to launch Lembah Beringin industrial park in 1Q 2027

Land & General Bhd (Bursa: L&G, 3174) plans to launch the first 240 acres of an industrial park on its 2,500-acre estate beside Lembah Beringin in Hulu Selangor in the first quarter of 2027, managing director Low Gay Teck said after the group's annual general meeting on 22 September 2026. It is the first industrial project for the developer of Bandar Sri Damansara, on land it carries in its books at 44 sen per square foot. Chery's RM2.2 billion car plant, which borders the site, is due to start production in the same quarter.

What L&G announced

• Phase 1: 240 acres of semi-detached, detached, large and small factories, plus industrial lots of various sizes, for sale; L&G is also open to leasing land
• Timing: launch targeted for 1Q 2027, the last quarter of L&G's financial year to March 2027. The rezoning from agricultural to industrial use has been approved and awaits gazettement, after which detailed plans go in; first revenue in FY2028
• Infrastructure: about RM200 million for earthworks, water, electricity and gas, some of it serving later phases, funded from internal cash and borrowings
• Gross development value: about RM1.5 billion for phase 1, Low told reporters
• Who is interested: automotive suppliers first, then building-materials, semiconductor and data-centre players; the last two need separate approvals for their power and water loads
• Also in the pipeline: a six-storey stratified industrial complex on 13.74 acres in Tampoi, Johor Bahru, with a GDV of about RM500 million, for SMEs that need 3,000 to 5,000 sq ft; plans have gone to the Johor Bahru City Council

The land

The estate is Ladang Kerling (Sungai Jernih Estate), Mukim Kerling, District of Ulu Selangor: 1,009.71 ha, about 2,495 acres, of freehold land, currently a bamboo and oil palm estate. L&G's annual report carries it at RM48.1 million as at 31 March 2026, which is RM0.44 psf, or about RM19,300 an acre. It lies about five minutes from the Lembah Beringin toll plaza on the North–South Expressway. Low says it borders Chery's industrial park to the south and is near Proton's Tanjung Malim base.

L&G has been here before. Its subsidiary Lembah Beringin Sdn Bhd developed the 2,000-acre freehold Lembah Beringin township (golf course, homestead lots and houses) and went into liquidation in 2006; the township stalled after the 1997–98 Asian financial crisis.

Why now: Chery next door

Chery's Smart Auto Industrial Park takes the first 200 acres of Legenda Beringin Holding's 800-acre Beringin High-Tech Auto Valley. It is a RM2.2 billion investment for 100,000 vehicles a year, scalable to 300,000. The plant topped out on 25 June 2026 and is due to start operating in 1Q 2027, with about 2,000 jobs in phase 1, rising to about 5,000 when later phases finish in 2028 and 2029. Other manufacturers are following to Hulu Selangor: in July, Berjaya Property agreed to put 67.9 acres at Jalan Bukit Tagar into a RM1.3 billion tyre plant with China's Wanli Tire. The corridor has had one setback: BYD dropped its plant at Tanjung Malim this month (our report).

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The numbers

• Book value against market: TA Research estimated in April that the land would be worth about RM20 psf once converted and served with basic infrastructure, 45 times its RM0.44 book value. At RM20 psf the whole estate would be worth about RM2.2 billion, 3.3 times L&G's market value of RM654 million
• What the market is asking: nine Kerling industrial-land listings on EdgeProp this week, from 6 to 35 acres, ask RM19.90 to RM40.50 psf, with a median of RM21.80. These are asking prices, not transactions
• What the market has paid: Berjaya Property's 67.9 acres at Bukit Tagar went into its Wanli Tire joint venture at RM118.3 million, RM40 psf, including conversion, subdivision and construction works it will carry out. TA also cites a Kerling commercial land sale at RM58 psf (2025), UMW's 140 acres sold to LONGi in Serendah at RM50 psf (2022), and a median of RM74 psf for recent factory sales at Bukit Sentosa, Serendah
• Infrastructure: if the RM200 million is spent on phase 1, it comes to about RM833,000 an acre, or RM19 psf
• GDV: if phase 1 is RM1.5 billion, that is RM6.25 million an acre, or about RM143 psf of gross land, a figure that includes the factories L&G will build
• The share price: 11.5 sen (RM342 million) when L&G first spoke of the park in September 2025; 22 sen (RM654 million) today, up 91%

For comparison, the large serviced plots at the Gurun Heavy Industrial Park in Kedah sold at RM44 to RM45 psf this year.

What it means

L&G's edge is cost. A book value of 44 sen psf lets it price plots below Serendah and Rawang and still earn the "attractive margins" Low promised, and it can spread the RM200 million of utilities over a decade of phases. The timing suits Chery's suppliers, who will want to be next to a plant that starts in 1Q 2027. The things to watch are the gazettement, the first price list, and whether phase 1 really carries RM1.5 billion of GDV.

*Cover photo: Land & General managing director Low Gay Teck (right) with chief financial officer Oon Khai Fen. Photo: Low Yen Yeing/The Edge.*