Equalbase Development Pte Ltd, a Singapore-based developer specializing in industrial assets, marked the groundbreaking ceremony for Valdor II, a RM220 million multi-storey warehouse project in Penang, on Thursday. The warehouse, with a gross floor area of 620,000 sq ft, is expected to be completed in 2025. Logistics company DSV has been confirmed as the anchor tenant.

Equalbase CEO Nicholas Bischoff expressed excitement about expanding the company’s presence in Penang with this project. “Valdor II is a significant step towards our goal of becoming the leading provider of carbon-neutral industrial assets in the region. We are thrilled to collaborate with DSV, who shares our vision of sustainability,” Bischoff said.

Chin Pee Ching, Managing Director of DSV Solutions Malaysia, highlighted that Valdor II will enhance the company’s operational capacity while meeting the changing needs of customers. “In today’s fast-paced world, adaptability, efficiency, and environmental responsibility are critical. This warehouse will not only improve our ability to serve diverse industries but also help us contribute positively to the environment,” Chin said.

Valdor II is designed with sustainability at its core, incorporating low-carbon construction materials and energy-efficient technologies. It aims to achieve both LEED Gold and GBI Gold certifications. Located strategically, it will offer easy access to other key industrial zones, such as Batu Kawan and Bayan Lepas, further strengthening Penang’s industrial ecosystem.