SimeProp NEV in RM2.6bil DC sukuk programme
Sime Darby Property NEV (Holdings) Sdn Bhd has established a sukuk programme of up to RM2.6 billion to finance the development of build-to-suit-to-lease data centres and industrial and logistics assets, according to The…
Source: The Star · July 29, 2026 at 6:54 AM · AI-assisted report
Corroborated
KUALA LUMPUR, 29 JULY 2026 —
KUALA LUMPUR — Sime Darby Property NEV (Holdings) Sdn Bhd (SimeProp NEV) has launched a RM2.6 billion sukuk programme to finance the development of build-to-suit data centres and industrial-logistics assets, marking a strategic push into Malaysia’s digital economy and logistics sector.
Market Impact
The programme includes a green sukuk to part-finance hyperscale data centres (DCs) at Elmina Business Park, Sime Darby Property’s flagship industrial township in Shah Alam. The DC project, targeting completion by 2027, will be developed, constructed, and delivered by SimeProp NEV under a 20-year lease with a global technology multinational, ensuring long-term revenue stability.
Capital raised will also support a build-to-suit automated distribution warehouse in Elmina, designed for a 15-year lease with a local hypermarket operator. The facility, equipped with advanced automated storage and retrieval systems, is scheduled for completion by the end of 2027.
SimeProp NEV has established a green finance framework independently reviewed by MARC Solutions, which awarded a “gold” impact assessment, aligning the programme with international green finance standards.
The transaction is led by Maybank Investment Bank Bhd (Maybank IB) as principal adviser, lead arranger, and facility agent, with OCBC Al-Amin Bank Bhd as joint-lead manager. Credit Guarantee & Investment Facility (CGIF) serves as the financial guarantor for the guaranteed tranche. Maybank IB and the Asian Development Bank (ADB) act as joint-sustainability structuring advisers, while Maybank Islamic Bhd provides syariah advisory. OCBC Al-Amin Bank serves as security agent, and MTrustee Bhd as sukuk trustee.
Group managing director and CEO Datuk Seri Azmin Merican said the collaboration with Maybank, OCBC, and ADB reflects confidence in SimeProp NEV’s long-term strategy and investment platform.
Malaysia Market Impact The sukuk programme underscores growing investor appetite for sustainable infrastructure financing in Malaysia’s digital and logistics sectors. The inclusion of a green sukuk aligns with national sustainability goals and may attract ESG-focused investors. The long-term leases with multinational and local anchor tenants provide revenue visibility, potentially enhancing SimeProp NEV’s credit profile.
Sector and Company Specifics SimeProp NEV, part of Sime Darby Property’s New Economy Venture platform, is expanding beyond traditional property development into high-growth digital infrastructure. The Elmina Business Park project positions the group as a key player in Malaysia’s data centre ecosystem, supporting hyperscale cloud and AI-driven demand. The automated logistics facility further diversifies its income streams within Malaysia’s expanding e-commerce and retail supply chain.
Outlook The successful issuance of the RM2.6 billion sukuk programme signals strong market confidence in SimeProp NEV’s growth strategy. Completion of the data centres and logistics hub by 2027 will reinforce Malaysia’s position as a regional digital and logistics hub. Further expansions may depend on demand from multinational technology firms and domestic retailers, as well as government policies supporting digital infrastructure development.
Related: Sime Darby