Sime Darby Property launches RM1.25 bil fund to invest in data centres, industrial assets

KUALA LUMPUR (June 9): Sime Darby Property Bhd (KL:SIMEPROP) has launched a fund to invest up to RM1.25 billion in data centres and industrial projects within its own townships in Malaysia.

The “New Economy Venture” has secured 100% of the capital commitments from investors, including Employees Provident Fund, Armed Forces Fund Board, and Great Eastern Life Assurance (Malaysia) Bhd, the company said in a statement on Tuesday.

“The launch marks an important step in expanding Sime Darby Property’s investment and fund management business,” said its chief executive Datuk Seri Azmir Merican.

New Economy Venture is the latest real estate fund from Sime Darby Property and comes after its first joint venture with LOGOS Property for the RM1 billion “Industrial Development Fund” in 2022.

The two funds will allow Sime Darby Property to diversify its recurring income streams through investment yield and fee-based income from development and management of assets such as data centres and warehouses which are now in high demand.

New Economy Venture has secured two seed assets within its flagship township, Elmina Business Park and City of Elmina, which represent about 85% of the target fund size and supported by long-term lease. Construction for both assets is expected to be completed in the second half of 2027.

Sime Darby Property will act as the general partner and sponsor to the fund.

“The fund also reinforces the group’s capital-light growth strategy by leveraging third-party institutional capital to accelerate the development of new economy assets within its townships,” the company noted.

Sime Darby Property’s investment and management arm currently manages assets worth RM4.4 billion, supported by a long-term hyperscale data centre lease that came on stream in April 2026.