The Selangor International Aero Park (SAP), an aerospace industrial park in Sepang, is capable of bringing a positive impact to local residents, according to a senior real estate consultant.
He is confident that the industrial park development will be welcomed by local residents because it will help to increase property value and rents.
"The SAP development will create jobs, increasing demand for properties in the area. It will help Sepang and Putrajaya grow faster," he told NST Property.
The Selangor State Government will transform a 2,000-acre mixed development in Sepang for the aerospace industrial park.
SAP is a Selangor State Government initiative to meet the growing demand from existing and new aerospace industry players to establish APAC regional operations in Malaysia.
The soft launch to reveal the strategic plan to develop SAP was held at the Malaysian Pavilion at the Farnborough International Airshow 2022 in Farnborough, United Kingdom, on July 20, 2022.
Datuk Seri Amirudin Shari, Selangor's chief minister, officiated the launch, according to Bernama.
The aerospace and aviation industry is one of nine focus sectors identified in the state's five-year development plan (2021-2025).
The development of SAP is part of Selangor's value proposition to address existing industry challenges and opportunities.
Amirudin said that SAP will be made possible through collaborations between the state government, property developers, key aerospace and aviation agencies, and industry players.
It is intended to be a free trade zone that will accommodate activities such as aircraft teardown, aircraft retrofitting, engine and aero manufacturing, training and research centres, and development labs.
Smart hangars, office complexes, test bed facilities, and bonded warehouses will be part of the industrial park, he said.