Malaysian property developer Crescendo Corporation has made a significant move in Johor’s booming data center market, selling over 800,000 square feet of industrial land for RM120 million. The buyer, Data Cloud Innovation, plans to develop a carrier-neutral data center on the acquired plots within Nusa Cemerlang Industrial Park, continuing Johor’s transformation into a regional digital infrastructure hub.
This transaction marks Crescendo’s latest industrial land sale for data center purposes, following previous deals with major players like Microsoft and STT GDC. The company’s strategic divestments highlight Johor’s growing appeal as an alternative to Singapore, where data center development faces tighter restrictions. Data Cloud Innovation, a UK-based Magma Holding subsidiary, appears connected to UAE property giant Damac through corporate filings.
Damac’s data center arm, Edgnex, has been actively expanding across Asia Pacific since 2023, with projects underway in Malaysia, Thailand, and Indonesia. The Johor acquisition aligns with this regional growth strategy, capitalizing on the area’s proximity to Singapore and established infrastructure. The state has attracted numerous global operators, including Equinix, AirTrunk, and Yondr, creating a competitive data center cluster.
As Singapore gradually eases its data center moratorium, Johor continues to benefit from overflow demand, offering developers available land and competitive pricing. This latest deal reinforces the region’s position as Southeast Asia’s emerging data center hotspot, with Crescendo playing a key role in facilitating its industrial transformation through strategic land sales.