Teladan signs MoU to develop German tech park in Melaka
Melaka-based property developer, Teladan Group Bhd (Teladan) has signed a Memorandum of Understanding (MoU) with Melaka Corporation (MCORP), a Melaka State Government development agency, to develop a German Technology Park in Melaka.
The MoU was signed through its wholly-owned subsidiary Riverwell Resources Sdn Bhd (RRSB),
The signing ceremony was witnessed by Chief Minister of Melaka, Datuk Seri Ab Rauf Yusoh, and Ambassador Germany, Dr Peter Blomeyer.
The proposed project aims to attract German investment into the state of Melaka and strengthen Malaysia-Germany economic ties. It encompasses various industrial developments, including industrial bungalow lots, semi-detached factories, shop offices, and centralised labour quarters.
Under the MoU, both parties will collaborate on feasibility studies and development planning of the proposed project. The agreement seeks to leverage on the construction expertise of Teladan and its landbank located along Jalan Gapam. At the same time, MCORP will lead the development and sales of the Proposed Project.
Rauf Yusoh said, “This collaboration strengthens Malaysia’s position as a preferred investment destination within Asean and deepens economic ties with Germany. The proposed project aligns with the Government’s economic growth initiatives by promoting industrial advancement and attracting high-tech industries to Melaka.
“By leveraging on Malaysia’s strategic location in Southeast Asia and its robust infrastructure, we aim to drive Melaka’s industry, business, and trade forward.
“The proposed project represents a significant step towards advancing international trade activities, creating job opportunities, and broadening the country’s market access. At MCORP, we are committed to supporting Malaysia’s economic growth and development.”
This project builds on the robust trade relations between Malaysia and Germany, which have flourished significantly over the past decade. Germany has remained Malaysia’s top trading partner in the European Union, while Malaysia is now Germany’s largest trading partner in Southeast Asia.
Furthermore, Malaysia continues to be an attractive destination for foreign direct investments (FDIs) with German companies investing 8.5 billion euros (RM43.61 billion) as of 2023.
Teladan’s managing director Richard Teo said, “With a proven track record of developing over RM2.9 billion in combined gross development value (GDV) across residential, commercial, and industrial projects, we are confident in our contribution to this proposed project’s success.
“Looking ahead, we are optimistic about Melaka’s economic trajectory, driven by the 2024 Budget’s focus in enhancing Melaka’s competitiveness, alongside the Government’s commitment to positioning the state as a global tourism hub and trade and investment centre. With Teladan’s deep experience in Melaka, we are well-positioned to explore new development opportunities and unlock significant long-term commercial value.”
As of December 31, the group holds a total of 1,071.5 acres of undeveloped landbank, with a significant portion located in Melaka with a potential GDV of RM2.7 billion.