Khazanah unit IVP plans up to six new hangars at Subang aerospace complex

SUBANG (May 4): Impeccable Vintage Properties Sdn Bhd (IVP), a unit of Khazanah Nasional Bhd, is exploring the development of up to six new aircraft hangars at its aerospace complex at Sultan Abdul Aziz Shah Airport in Subang, depending on tenant demand and available land.

The site, which has about 100 acres in total, was formerly owned by Malaysia Airlines and was largely underutilised before IVP took over in 2021 and started refurbishment works. IVP CEO Abdul Offar Musa said around 30 acres are still available for future development.

“We will go according to demand from customers … because this business involves long-term leases, we have to make sure the customers can sustain that,” Abdul Offar, who was appointed to the position about a month ago, said, adding that IVP is already in discussions with potential clients. He was speaking to The Edge after the official launch of its aerospace facilities in Subang.

The aerospace complex houses three hangars with varying capacities. Hangar 2 can accommodate up to two wide-body aircraft or four narrow-body jets; Hangar 3 can handle two wide-body and one narrow-body aircraft; and Hangar 4 supports one wide-body, one narrow-body and up to two turboprop aircraft.

“If we go for big hangars like the current ones, we can do another three. But if we go for smaller ones, we can do up to six. It depends on demand,” Abdul Offar said. The development is still at an early stage where details such as financial commitments and others remain unavailable, he added.

“Whatever you see in this area — approximately 100 acres — all the buildings were part of the original assets. There are about 27 buildings and facilities, including the hangars,” Abdul Offar said. “None of the hangars were rebuilt but they were refurbished to meet current regulatory requirements.”

Refurbishment works began in stages from 2020, with the final certificate of completion and compliance (CCC) for Hangar 3 obtained in February this year. The upgrades included mechanical and engineering improvements to meet the latest aviation standards, as well as installation of specialised equipment such as hangar doors and teleplatform systems, some of which are still being delivered from overseas.

In terms of operations, Hangars 2 and 3 are already leased to a unit of SIA Engineering Company under a 15-year agreement, currently in its third year, while Hangar 4 is leased to Malaysia Airlines’ engineering arm. Under this model, IVP provides the infrastructure, while tenants operate maintenance, repair and overhaul (MRO) services for their airline clients.

“Whatever business they do is their call — we just provide the facilities,” Abdul Offar said, adding that tenants may serve multiple airlines depending on their capacity and customer base.

He added that his aspiration is to make the complex a full-fledged aerospace hub rather than just an MRO facility. He shared that the company is looking to attract a wider range of aviation-related players like drone operators, flight service providers and private jet companies.

“We don’t want IVP to be seen as just a landlord or just an MRO location. We want to create an aerospace ecosystem,” Abdul Offar said. “For example, someone may not need a hangar but wants office space for drone operations — we can accommodate that.”

Separately, IVP is also discussing a joint hangar project with Universiti Kuala Lumpur on a combined 2.8ha site shared between both parties, according to Abdul Offar. However, progress has been slow due to regulatory and security requirements for access within the airport area, and both sides are still working through boundary and infrastructure issues.