Citaglobal Bhd has exercised its option to acquire 247 acres in the Gebeng Industrial Estate, Pahang, and will proceed to develop a green industrial park. We review the timeline, connectivity, anchor industries, pricing signals, and what this means for investors in the Gebeng–Kuantan corridor.
Citaglobal Bhd Acquires 247 Acres in Gebeng to Develop a Green Industrial Park: Market Survey & Investor Outlook
Published: 11 September 2025
Quick take: Citaglobal Bhd has exercised a call option to acquire a 247-acre parcel in the Gebeng Industrial Estate, Kuantan, for a consideration of RM90 million (RM76.5m in ICPS-B at RM0.80 each + RM13.5m cash). With the land secured, Citaglobal will proceed to develop the industrial park on its own, ceasing the earlier JV structure.
1) Deal Timeline: From JV to Full Ownership
- Aug 28, 2024: Citaglobal signed a binding term sheet with Tree Technologies Sdn Bhd (TTSB) to jointly develop an eco-friendly industrial park on 247 acres in Gebeng (65:35 equity), with a call option to acquire the land at RM90m via cash + ICPS-B at RM0.80.
- 2024–2025: Subsequent filings indicated a GDV estimate of RM321–397 million for the industrial park concept.
- Sept 9, 2025: Citaglobal exercised the option and inked a conditional SPA to acquire the 247-acre land from TTSB; the JV will cease and the project proceeds under Citaglobal. The RM90m price reflects a ~1.1% discount to a November 2024 valuation of RM91m.
2) Why Gebeng? Location, Logistics & Ecosystem
Port proximity: The Gebeng Industrial Area sits within minutes of Kuantan Port, with state sources citing a distance of about 7.5 km. This positions manufacturers close to bulk and container terminals for raw material inflow and exports.
Railway catalyst (ECRL): Track-laying between Kuantan Port City (KPC) and Dungun has been completed ahead of schedule, and the overall ECRL progress targets operations by 1 Jan 2027. Freight at 80 km/h and passenger service at 160 km/h are planned, with Gebeng/KPC as a strategic node.
Industrial anchors: Gebeng hosts heavy hitters such as BASF PETRONAS Chemicals and Lynas Malaysia, underscoring a mature petrochemical/process industry ecosystem. Nearby, the Malaysia–China Kuantan Industrial Park (MCKIP) spans ~3,500 acres and sits ~5 km from Kuantan Port, adding large-scale steel, tyres and related industries.
Highway access: Through the East Coast Expressway (E8), Kuala Lumpur ˜ 3 hours by road from Gebeng, enabling executive access and last-mile logistics into the Klang Valley.
3) Pricing Signals: Asking vs Transacted
Recent public listings show indicative asking prices in Gebeng hovering around RM22–RM36 psf (˜ RM0.96m–RM1.57m per acre), with examples such as 33.2 acres at ~RM22.13 psf and ~29 acres around RM36 psf. As always, asks differ from actuals.
On the transacted side, Brickz reports a median RM31 psf for Gebeng land deals in 2024 (Mar–Dec), implying roughly ~RM1.35m per acre. Availability, infrastructure, zoning, and plot shape/frontage still drive wide dispersion deal-to-deal.
4) The Development Angle: “Eco-Friendly Industrial Park”
Early filings pointed to green elements (e.g., BESS readiness, rainwater harvesting, green roofs) and a Citaglobal-led EPCF approach for design, engineering, procurement, construction and financing. This aligns with tenant requirements for ESG reporting and power resilience.
5) Gebeng Market Survey: What Tenants & Buyers Ask First
- Power readiness: Required capacity (e.g., 2–10 MW+ for process lines) and substation timelines.
- Process utilities: Water (daily m³), natural gas availability, industrial wastewater solutions, and compliance with DOE requirements.
- Multimodal logistics: Time to port gate, drayage costs, and ECRL rail-freight interfaces at KPC once operational.
- Zoning & approvals: Plot use/conditions, Bomba/CCC path, and any special handling if chemicals/hazardous materials are involved.
- Neighbourhood effects: Adjacency to chemicals, steel, and tyre manufacturing (MCKIP), which can be a supply-chain advantage for many sub-sectors.
6) Who Should Shortlist Gebeng Now?
- Port-led industries: petrochem, steel, heavy components, tyres, bulk/raw materials.
- Export-oriented SMEs needing container access with room to scale (semi-D and detached factory typologies).
- ESG-minded occupiers seeking solar/BESS-ready rooftops and water-recycling features.
7) Risks & Watch-Items
- ECRL timeline: Track-laying milestones are positive, but plan contingencies until 2027 operations commence.
- Utility lead times: Synchronise building completion with TNB, water, gas and sewer approvals.
- Title & tenure: Lease terms, express/implied conditions, and any development quotas or buffer requirements.
At a Glance: Gebeng Industrial Snapshot
- Land secured: 247 acres (Citaglobal) with GDV previously guided at RM321–397m.
- Port proximity: ˜7.5 km to Kuantan Port.
- Rail catalyst: ECRL KPC/Gebeng node; operations targeted 1 Jan 2027.
- Anchors: BASF PETRONAS Chemicals, Lynas; near 3,500-acre MCKIP.
- Price signals: Asks ~RM22–RM36 psf; 2024 median ~RM31 psf (Brickz).
How Terra Group Can Help
We match manufacturers, logistics players and investors to serviced industrial land and ready-built factories across Pahang and the East Coast. Tell us your power, process and logistics specs—we’ll shortlist suitable options and structure a path to approvals, utilities and incentives.
Start Your Search for Agricultural, Industrial, or Land Investment
- Explore Agricultural and Development Land for Sale
- Browse Industrial Properties in Rural Areas
- See Commercial Assets Supporting Agri-Supply Chains
Sources: The Edge Malaysia report on Citaglobal’s land option exercise (Sept 9, 2025); Citaglobal’s Aug 28, 2024 term sheet filing; PKNP Gebeng overview; MRL ECRL progress/operations note; MCKIP profile; public listings (PropertyGuru, iProperty); Brickz transaction summary for Gebeng 2024.
Disclaimer: Asking prices are indicative and differ from transacted values; confirm utilities, title conditions and approvals during due diligence.
