Sime Darby Property Bhd is acquiring 225.39 hectares of freehold land in Kulai, Johor, from SD Guthrie Bhd for RM418.5 million.
The land, located along Jalan Kulai-Kota Tinggi within Flagship Zone F of the Johor-Singapore Special Economic Zone (JS-SEZ), will be developed into a township with an estimated gross development value of RM3 billion.
Sime Darby Property Bhd is acquiring 225.39 hectares of freehold land in Kulai, Johor, from SD Guthrie Bhd for RM418.5 million to develop a township with an estimated gross development value of RM3 billion.
The acquisition is being made through Sime Darby Property (Kulai) Sdn Bhd, which has signed an agreement with SD Guthrie.
The planned township will include landed residential and commercial properties, with the first phase expected to be launched in 2028. The entire development is expected to take 10 to 15 years to complete.
Sime Darby Property group managing director and CEO Datuk Seri Azmir Merican said the acquisition would strengthen the company’s presence in Johor and expand its development portfolio.
He said the site’s location within the JS-SEZ provides an opportunity to develop a sustainable township that supports growing market demand, economic activity and job creation.
The acquisition will add to Sime Darby Property’s existing Johor developments, including Bandar Universiti Pagoh and Taman Pasir Putih in Pasir Gudang.
The company said the purchase would also diversify its earnings beyond the Klang Valley and Negri Sembilan while strengthening its long-term development pipeline.
