Northern TechValley @ BKE sold RM137m in its first year

Northern TechValley @ BKE, the 176-acre freehold industrial park beside the Butterworth-Kulim Expressway in Seberang Perai Tengah, recorded RM137.3 million of new sales in its first full financial year, according to AME Elite Consortium's 2026 annual report. The park has a gross development value of RM1.3 billion and is being developed by Suling Hill Development Sdn Bhd, a 50:50 joint venture between AME's unit Northern Industrial Park Sdn Bhd and Majestic Gen Sdn Bhd. Its first phase, more than 20 acres of detached factories, is under construction, and Penang Property Talk published site-progress photos on 10 October 2026.

Phase 1

• Size: 8.094 hectares (about 20 acres) of 1½-storey detached standard factories. The show unit opened on 20 April 2026
• Type A (about 1 acre): land of about 45,629 to 61,637 sq ft, with 31,512 to 44,151 sq ft of floor area
• Type B (about 2 acres and above): land of about 80,213 to 102,344 sq ft, with 59,687 to 68,467 sq ft of floor area
• Specifications: 9-metre production height, 20 kN per sq m floor loading, covered loading bays with dock levellers and a column-free first-floor office
• Timing: construction began in July 2025, with completion targeted for the third quarter of 2026. No handover has been announced. Prices have not been published

Later phases

The later phases cover about 60.7 hectares (150 acres) and will run at the same time. They include larger built-to-suit factories, workers' accommodation and access infrastructure. The planning permission granted on 6 February 2024 covers industrial plots, commercial plots, affordable homes and workers' accommodation. At the October 2024 launch, The Edge reported completion expected in 2029.

Sales and buyers

• Sales: RM137.3 million of new sales in the year to 31 March 2026, with RM145.4 million unbilled and a remaining GDV of RM1.1 billion at that date. Unbilled sales stood at RM116.9 million at 30 June 2026
• Buyers: companies from Singapore, the United States, China and Malaysia, in warehousing, distribution, showrooms, printing, service centres, auto parts, construction machinery, CNC machines and logistics. No buyer has been named
• AME as a buyer: AME has also contracted to buy one industrial property in the park as an investment property. RM4.41 million of that commitment was still to be paid at 30 June 2026

Access and funding

• Flyover: a private RM30 million, 413-metre flyover with one lane in from and one lane out to the BKE. Construction began on 8 August 2025
• Financing: AmBank Islamic extended RM222.8 million of financing to Suling Hill Development in August 2025. AME had lent the joint venture RM27.18 million by 31 March 2026

The land

Suling Hill Development bought 16 freehold lots in Mukim 19, Seberang Perai Tengah, totalling about 175.98 acres, from Waz Lian Holdings Sdn Bhd under an agreement dated 18 August 2022. The deal was completed on 3 April 2024.

• Price: RM130 million, about RM17 psf of land: RM80 million in cash plus RM50 million to be paid in kind after approval to convert the land to industrial use
• The in-kind part: up to three standard factories in the park, each of at least 50,000 sq ft built-up, valued at RM280 psf or the price offered to other buyers, whichever is lower
• Valuation: PPC International valued the land at RM90 million as it stood and RM126.8 million once converted to industrial use
• The seller: Waz Lian's directors included Ta Shun Dher and Ta Wee Dher, who then owned Majestic Gen (formerly Majestic Builders) in equal shares. Ta Wee Dher, Majestic Gen's group managing director, is also a director of Suling Hill Development. Majestic Gen is also E&O's partner on Jalan Kia Peng in Kuala Lumpur

AME's 2022 plan was 66 industrial units with a GDV of RM1 billion; the park launched in 2024 at RM1.3 billion.

Cover photo: Suling Hill Development Sdn Bhd, via Bernama.