Malaysian property developer Sime Darby Property Berhad has on Monday announced the signing of a new build-and-lease agreement with Pearl Computing Malaysia Sdn Bhd, a wholly-owned subsidiary of a multinational technology company, which will see the development of additional data center facilities.

Sime Darby Property said in a statement on Monday that the data center facilities will be developed to meet customized specifications and infrastructure requirements, on a 77-acre site at Elmina Business Park.

These facilities will be located in close proximity to Pearl Computing’s first data center, which is currently under construction and targeted for completion in early 2026.

With its well-established infrastructure, strategic location, and thoughtfully designed master plan, the 1,500-acre industrial township of Elmina Business Park, which is
Klang Valley’s largest freehold industrial business hub, has become a preferred destination for technology-driven industries, said the statement.

Securing these additional data center projects further accelerates the township’s development into a thriving industrial hub, elevating its appeal to global corporations, it added.

It is noted that infrastructure development at the site is currently underway, with completion of construction targeted for 2027.

Following that, the parties will enter into a 20-year lease valued at up to MYR 5.6 billion ($1.25 billion), with options to renew for two additional five-year terms.

This realizes the group’s SHIFT25 strategy by significantly increasing recurring income and expanding the investment and asset management (IAM) segment’s assets under management.

“This agreement reflects Sime Darby Property’s ability to deliver, own, and lease data centers that meet the demands of the global digital economy, exemplifying the technical sophistication and operational reliability required for mission-critical, complex infrastructure assets,” said Azmir Merican, Sime Darby Property’s Group Managing Director.

According to him, the presence of these data centers in Elmina Business Park enhances Selangor’s attractiveness as a key digital hub for Malaysia, buoyed by Selangor’s well-developed infrastructure, business-friendly policies, and collaborative efforts of authorities.

According to the statement, this agreement builds on Sime Darby Property’s maiden data center collaboration, announced in May this year, which marked the group’s entry into the data center segment.

These initiatives represent a robust expansion into the high-value data center asset class and affirm Sime Darby Property’s position as a key enabler of Malaysia’s digital transformation journey, it added.

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