KUALA LUMPUR: The global biotechnology (biotech) market is poised for a remarkable surge, projected to reach nearly four times its 2020 value by 2030.

With this exponential growth in mind, Johor Corporation (JCorp) is gearing up to establish a biotechnology hub in Johor, aimed at generating an estimated gross development value (GDV) of RM980 million.

Positioned as Malaysia's very own 'Silicon Valley' for biotech, this hub is expected to play a pivotal role in the nation's technological advancement.

JCorp's real estate and infrastructure arm, JLand Group Sdn Bhd (JLG), has inked a memorandum of understanding with biotechnology giant, ALPS Global Holding Bhd (ALPS), for the realisation of this ambitious project.

The collaboration between JLG and ALPS is envisioned as Malaysia's strategic move to capitalise on the unprecedented growth trajectory of the biotech market, positioning the nation as a key player in the global biotechnology landscape.