Sime Darby Property Berhad announces that it has signed a new build-and-lease agreement with Pearl Computing Malaysia Sdn Bhd, a wholly-owned subsidiary of a multinational technology company (Google) for the development of additional data centre facilities.
The data centre facilities are said to be developed on a 77-acre site at Elmina Business Park located in close proximity to Pearl Computing's Google data centre which is currently under construction and targeted for completion in early 2026.
The 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 RM5.6 billion, with options to renew for two additional five-year terms. This realises the Group's SHIFT25 strategy by significantly increasing recurring income and expanding the
Investment & Asset Management ("IAM") segment's assets under management.
Dato' Seri Azmir Merican, Sime Darby Property's Group Managing Director said, "This agreement reflects Sime Darby Property's ability to deliver, own, and lease data centres that meet the demands of the global digital economy, exemplifying the technical sophistication and operational reliability required for mission-critical, complex infrastructure assets."