Parkwood Holdings, a Malaysian property developer formerly called Amalgamated Industrial Steel, plans to launch projects worth over RM680 million in the next 20 months as it enters a new growth phase.
From steel to real estate
Parkwood finished its first residential project, the 82-unit Utamara Boutique Residences in Petaling Jaya, in September 2023. The development sold out completely and earned awards, including the Fiabci Malaysia Property Award and the PAM Award.
The shift to property began in 2020 when the company sold its steel trading operations. Bursa Malaysia reclassified its business from industrial products to property, and shareholders approved the name change to Parkwood Holdings in early 2021.
Executive chairman Lim Chin Sean explained that the company avoided overcommitment during the pandemic. Instead, it focused on completing Utamara while conserving resources. “We held on to the projects, knowing that during the pandemic, anything could go wrong,” he said.
Diverse pipeline across the Klang Valley
Parkwood’s upcoming projects include residential, industrial, and mixed-use developments. Chief operating officer Chan Keen Wai noted that each project is designed for its location and market. “All our projects are quite different. It took time before the right sites became available,” he said.
In Damansara Damai, the RM409 million ParkWest Petaling Jaya will offer 714 serviced apartments across two towers, with prices starting at RM660,000. The project, scheduled for completion in 2029, includes retail units and amenities like a rooftop deck and children’s playground.
Lim stated that the development targets young professionals, families, and investors. “Every project must suit its location. We don’t build identical properties everywhere,” he added.
A stratified landed development in Rawang, valued at RM271 million, will provide 273 terraced houses starting at RM900,000. Chan highlighted the site’s appeal, citing its greenery and proximity to forest reserves. The project also includes 117 affordable Rumah Selangorku units.
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The industrial segment features Avant Industrial Park in Shah Alam, where Phase 1—four two-storey warehouses—will be ready this September. The design emphasizes land efficiency with EV charging, rainwater harvesting, and GreenRE Silver certification.
Other developers have encountered similar land constraints, but few have combined efficiency with sustainability at this level. The approach mirrors industry trends, where industrial spaces now prioritize flexibility and environmental standards.
Adaptive reuse and overseas expansion
Parkwood operates under the LGB Group, which holds property interests in Malaysia, the UK, Japan, and Australia. LGB’s Bellworth Developments has repurposed industrial sites, including Factory 19 in Petaling Jaya, a lifestyle hub built on a former tobacco factory.
Lim noted that the project demonstrates a different way of thinking about development. “Many old factories worldwide have been transformed. We’ve focused on how these places can create value rather than just constructing something new,” he said.
Overseas, LGB’s projects include Lancer Square in London and Nozo Hotel in Japan’s Furano. In Perth, Quentin Square combines luxury apartments and retail in a boutique mixed-use development.
In Malaysia, LGB is planning West End Taman Sea, a RM1.07 billion mixed-use project in Petaling Jaya. The first phase, Highstreet @ West End, will launch in late 2026, followed by West End Residences in 2027.
The commercial component aims to establish an active address before the residential units arrive. “We want to attract the crowd first,” Lim explained.
With a diverse portfolio and a focus on adaptability, the company continues to expand its presence in both local and international markets.
