en.Wedoany.com Reported - Sime Darby Property has established a new economy fund worth MYR 1.25 billion (USD 307.7 million), focusing on investments in customized leased data centers as well as industrial and logistics development projects.

The fund, named "New Economy Venture," achieved 100% capital commitment at its first close, with support from multiple institutional investors, including the Employees Provident Fund, Lembaga Tabung Angkatan Tentera, and Great Eastern Life Assurance (Malaysia).

Sime Darby Property serves as the general partner and sponsor of the fund, committing USD 123.1 million as a co-investor at the first close. The fund has been used to acquire two seed assets located in City of Elmina, Sungai Buloh, Selangor, Malaysia, which together account for 85% of the target fund size, and are planned under long-term lease arrangements. Construction of these assets has commenced and is expected to be completed in the second half of 2027.

Dato’ Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property, stated, "The launch of New Economy Venture marks a significant milestone in our transformation journey under the SHIFT32 strategy." He added that, as the general partner and manager of the fund, it will enable Sime Darby Property to diversify its recurring income streams by generating investment returns and fee income through the development of new economy assets such as data centers and warehouses, which are in high demand in Malaysia's real estate market.

Sime Darby Property's Investment and Asset Management (IAM) business currently manages USD 1.08 billion in assets, a scale the company attributes to a long-term hyperscale data center lease that began operations in April 2026. Since 2024, Sime Darby Property has leased land to Google for the development and operation of two data centers.

With a 50-year history initially focused on Malaysian township and community planning, Sime Darby Property has built over 100,000 homes across 25 active townships and development projects. While continuing these developments, its IAM business focuses on "long-term value creation through strategic asset ownership and management." As part of the "SHIFT32" strategy, the developer is transitioning from a real estate developer to a diversified real estate company with recurring income streams.

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