Savills' Integrated Real Estate Advisory Services (IREAS) signs MOU with Iskandar Halal Park

IREAS, in partnership with Haltex Group Pte Ltd, will form the Global Halal Alliance, a strategic program designed to foster the growth of global trade by connecting various supply and demand chains, starting with Iskandar Halal Park.

Iskandar Halal Park holds immense potential for the establishment of a Halal Logistics Center that offers warehousing, cold storage, and transportation services for Halal products. This state-of-the-art facility ensures the handling and transportation of Halal products in accordance with Islamic principles and standards. With its superior infrastructure, facilities, and services, Iskandar Halal Park is poised to become the regional Halal hub, attracting Halal manufacturers, service providers, and investors.

The global Halal industry, encompassing services and products, has witnessed rapid growth, with an estimated market size of $3.2 trillion in 2020 and projected to reach $9.71 trillion by 2026 (Grand View Research, 2021). Beyond food and beverages, the Halal industry spans sectors such as cosmetics, pharmaceuticals, finance, tourism, and fashion.

This collaboration between IREAS and Iskandar Halal Park, managed by UMLAND Bhd, establishes a pivotal anchor arrangement to connect the global supply and demand chain through an innovative Integrated Halal Services Hub and information technology (IT) platform. This aligns with Malaysia's National Fourth Industrial Revolution Policy, which emphasizes technology adoption and innovation.

The Global Halal Alliance believes that its digital and physical ecosystems, along with strategic international networks, are key to realizing the full potential of the global Halal industry, particularly within the context of the industrial revolution and its emphasis on digital transformation.

Dr. Annie Woo, Regional Director & Head of IREAS Asia, stated, "As a member of the Global Halal Alliance, IREAS will act as the primary liaison with investors and international MNCs across various industries. Leveraging international connections and multi-disciplinary expertise, we will develop tailor-made end-to-end solutions and lead in areas such as place and supply chain strategy, economic and social impact reviews, development strategy, ESG, and proptech advisory work."

"This collaboration has already identified several key development strategies, including targeting industries, park design, and business and development delivery models. These strategies are set to enhance the appeal of Iskandar Halal Park, attracting prominent foreign occupiers and investors while positively impacting the local community through the creation of new employment opportunities," she added.

Marcus Loo, Chief Executive Officer of Savills Singapore says, “We are thrilled to enter this collaboration with Iskandar Halal Park, marking a significant strategic milestone for Savills. This will strengthen our capabilities and build upon our strong track record in core advisory services. It aligns perfectly with our ongoing commitment to playing a crucial role in shaping the built environment throughout the region."

This initiative is appreciated and supported by the State of Johor, led by YAB Datuk Onn Hafiz bin Ghazi, the Chief Minister of Johor, Malaysia.