Sime Darby Property launches RM1.25 billion fund for data centres, industrial assets
The five-year fund has secured two seed assets in Elmina Business Park and the City of Elmina
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[SINGAPORE] Malaysia’s Sime Darby Property said on Tuesday (Jun 9) it had launched a RM1.25 billion (S$395.4 million) Shariah-compliant fund to build and lease data centres and other industrial and logistics assets.
The New Economy Venture fund secured full capital commitments at its first close from institutional investors, including the Employees Provident Fund, Lembaga Tabung Angkatan Tentera and Great Eastern Life Assurance Malaysia.
Sime Darby Property will act as the fund’s general partner and sponsor. It has committed RM500.1 million as a co-investor.
The five-year fund has secured two seed assets in Elmina Business Park and the City of Elmina. The assets make up about 85 per cent of the target fund size and are backed by long-term leases.
Construction for both assets has started and is expected to finish in the second half of 2027, the company said. REUTERS
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