The Malaysian property market continues to show resilience as Sime Darby Property’s latest residential project in Shah Alam achieves full sales within weeks of launch. The developer reported complete take-up of all 192 double-storey linked homes at The Nine, Elmina Green development, with prices ranging from RM921,888 for units spanning 2,000 to 2,342 square feet. This successful launch follows strong buyer interest during the project’s preview event in March, demonstrating sustained demand for quality housing in strategic locations.
Beyond residential developments, Sime Darby Property is making significant strides in its industrial and commercial portfolio. Analysts highlight the company’s underappreciated potential in data center leasing, with two upcoming facilities in Elmina Business Park expected to generate substantial long-term revenue. The developer recently strengthened its position by acquiring full ownership of two modern logistics warehouses valued at RM232 million, laying groundwork for a potential REIT listing within the next two years. These industrial assets could command premium valuations given their strategic locations and quality specifications.
Financial maneuvers are supporting the company’s expansion plans, including a recently completed RM800 million sukuk issuance that was oversubscribed nearly seven times. These funds will primarily fuel growth in the industrial, logistics, and data center segments, with analysts noting the company maintains significant debt capacity for further investments. The two data center projects alone represent RM7.6 billion in potential lease value over 20 years, projected to boost annual profits by over 20% starting from 2028.
With an existing portfolio that includes 1.48 million square feet of retail space and multiple industrial parks across Selangor, Negeri Sembilan, and Johor, Sime Darby Property appears well-positioned for diversified growth. The company’s strategic shift toward industrial and technology-driven real estate assets complements its traditional residential developments, creating multiple revenue streams. As Malaysia’s property landscape evolves, the developer’s balanced approach across sectors suggests promising long-term prospects in both the consumer and commercial real estate markets.