Sime Darby Property Bhd has launched a new investment fund with a target size of up to RM1.25 billion to develop and invest in data centres and industrial assets located within its townships across Malaysia.
Known as the New Economy Venture, the fund has secured full capital commitments from the Employees Provident Fund (EPF), the Armed Forces Fund Board (LTAT) and Great Eastern Life Assurance (Malaysia) Bhd. The company said additional limited partners may be brought into the fund at a later stage.
Sime Darby Property Group Managing Director and Chief Executive Officer Datuk Seri Azmir Merican said the initiative represents a significant milestone in expanding the group’s investment and fund management capabilities.
According to the company, the New Economy Venture builds on its growing presence in the industrial and logistics sector following the launch of its RM1 billion Industrial Development Fund, a joint venture with LOGOS Property established in 2022.
Together, the two funds are expected to strengthen Sime Darby Property’s recurring income base by generating investment yields and fee-based earnings from the development and management of assets such as data centres, warehouses and other new economy infrastructure that continue to see strong market demand.
The new fund has already secured two seed assets located within the group’s flagship developments, Elmina Business Park and the City of Elmina. These projects account for approximately 85% of the targeted fund size and are backed by long-term lease agreements. Construction of both assets is expected to be completed in the second half of 2027.
Under the investment structure, Sime Darby Property will serve as the general partner and contribute RM500.1 million to the main fund. EPF will invest RM100 million, LTAT will commit RM200 million and Great Eastern will provide RM199.9 million.
In addition, EPF will participate in a sidecar investment vehicle with a capital commitment of RM250 million. The sidecar fund is designed to invest alongside the main fund in selected projects.
The company said the initiative supports its capital-light growth strategy by leveraging third-party institutional funding to accelerate the development of new economy assets across its existing townships.
Sime Darby Property added that its investment and asset management division currently oversees approximately RM4.4 billion worth of assets, supported by a long-term hyperscale data centre lease that commenced operations in April 2026.
