Lease Value of RM2 Billion Over 20 Years

• Elmina Business Park chosen as the destination for hyperscale data centre by multinational technology company;
• Sime Darby Property responsible for the design and development of the hyperscale data centre;
• Target completion set for 2026 followed by 20-year lease with multinational technology company;
• In line with the Group’s SHIFT25 strategy; enhancing Sime Darby Property’s Investment & Asset Management portfolio and long-term recurring income contribution.

ARA DAMANSARA, 23 MAY 2024: Sime Darby Property Berhad ("Sime Darby Property" or "Group”) today announced its partnership with Pearl Computing Malaysia Sdn Bhd (“Pearl Computing”), a wholly-owned subsidiary of a multinational technology company, to develop a hyperscale data centre.

Sime Darby Property and its flagship Elmina Business Park were selected as the destination for hyperscale data centre based on strategic merits, including its 50-year track record in large-scale integrated projects, the park’s robust infrastructure, prime location and Sime Darby Property’s financial strength. Photo: Artist’s Impression

The data centre will be located on an approximately 49-acre site within Sime Darby Property’s 1,500-acre Elmina Business Park, recognised as the largest freehold industrial park in Klang Valley. Elmina Business Park, an integral part of Sime Darby Property’s largest township, the City of Elmina, has been meticulously master-planned, establishing it as a leading industrial township since its launch in 2019.

Sime Darby Property and its flagship Elmina Business Park were selected based on strategic merits, including Sime Darby Property’s 50-year track record in large-scale integrated projects, the park’s robust infrastructure and prime location as well as Sime Darby Property’s financial strength, which assures long-term lease certainty.

In developing this mission-critical asset, the Group will holistically manage the design and development, infrastructure planning, and construction management, ensuring successful delivery of the facility customised to the multinational technology company’s specifications.

The project is set to break ground in the second quarter of 2024, with construction completion targeted for 2026. Following completion of construction, the parties will enter into a 20-year lease valued at up to RM2 billion, with options to renew for two additional five-year terms.

This project by Sime Darby Property is set to break ground in the second quarter of 2024. Construction completion is targeted for 2026, followed by a 20-year lease with the multinational technology company. Photo: Artist’s Impression

Dato’ Azmir Merican, Sime Darby Property’s Group Managing Director said, “We are excited to embark on our maiden entry into the data centre segment, which is rapidly emerging as an important asset class within real estate for which we are well-positioned to expand into. This project allows us to broaden our Investment & Asset Management portfolio, aligning with our SHIFT25 strategy to grow recurring income.”

Added Dato’ Azmir, “This facility will elevate Elmina Business Park’s status as a premier industrial location for technology corporations, both local and international. This achievement reflects the effort invested in its realisation. We would also like to acknowledge local municipal authorities, Government agencies, and utility providers who have supported us, as their contributions have been instrumental in advancing this project, which is of national significance.”

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About Sime Darby Property Berhad
With over 50 years of experience, Sime Darby Property leads in creating master-planned communities, setting the benchmark for quality, innovation, and sustainability in residential, integrated and high-rise projects within its 25 townships and developments across Malaysia.

As it transitions into a real estate company by 2025, the company drives the industrial and logistics segment in Elmina Business Park, Bandar Bukit Raja, Hamilton Nilai City, and the Pagoh Special Economic Zone. Propelling its recurring income portfolio, Sime Darby Property is also the first public-listed property developer in Malaysia to venture into the creation of development funds in the industrial and logistics sector.

The company has pledged to achieve Net Zero carbon emissions by 2050, referencing the science-based target of limiting global temperature rise to 1.5°C. A consistent champion for biodiversity, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with MSCI ESG Rating of BBB and is rated by the Carbon Disclosure Project.

A part of the respectable Malaysian consortium which successfully regenerated the iconic Battersea Power Station in the United Kingdom, Sime Darby Property also owns the multi-award-winning Kuala Lumpur Golf & Country Club, host to the prestigious LPGA-sanctioned Maybank Championship.

Driven by its Purpose to be a Value Multiplier for People, Businesses, Economies, and the Planet, Sime Darby Property through its philanthropic arm, Yayasan Sime Darby, continuously creates positive social impacts for the communities it serves.

Sime Darby Property is recognised as the World’s Best with Gold and Silver wins at the FIABCI World Prix d'Excellence Awards 2023, with other notable achievements, including All-Stars at the StarProperty Awards 2023, a Platinum ranking in the Property Development category at the Putra Brand Awards 2023, a Top 10 Developers (Malaysia) Award at the BCI Asia Awards 2023, a People’s Choice Award at the PropertyGuru Asia Awards Malaysia 2023, as well as named one of the nation’s top three property developers at ‘The Edge Malaysia’s Top Property Developers Awards 2023’.

For more information log on to www.simedarbyproperty.com
Media Contact: Alia Mior Azhar | +6010-433 4268 | alia.miorazhar@simedarbyproperty.com 
For General Enquiries please e-mail: group.communications@simedarbyproperty.com

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