KUALA LUMPUR: Sime Darby Property NEV (Holdings) Sdn Bhd has established a RM2.6bil Sukuk Programme to finance the development of hyperscale data centres and industrial and logistics assets, including what it describes as the world's first Green Sukuk programme for hyperscale data centres.
The programme will part-finance the development of build-to-suit hyperscale data centres at Elmina Business Park, with completion targeted in 2027. The facilities are backed by a 20-year lease with a multinational technology company.
Proceeds will also support the construction of a build-to-suit automated distribution warehouse in the City of Elmina, anchored by a 15-year lease with a local hypermarket operator and targeted for completion by the end of 2027.
To support the issuance, Sime Darby Property NEV established a Green Finance Framework which received a Gold impact assessment from Marc Solutions for its alignment with local and international green finance standards.
Sime Darby Property group managing director and chief executive officer Datuk Seri Azmir Merican said the Sukuk Programme marks a significant milestone in the group's strategy to expand its new economy ventures and recurring income portfolio.
"We are the first developer in Malaysia to bridge Sukuk financing with an institutional real estate private equity structure, supported by a Gold graded Green Finance Framework that reinforces our commitment to sustainable growth and disciplined capital management," said Azmir.
Azmir added that the initiative strengthens Sime Darby Property's position in the fast-growing digital economy while supporting the development of institutional-grade assets for global technology operators.
At the signing ceremony with Azmir were Maybank president and group chief executive officer Datuk Seri Khairussaleh Ramli, OCBC managing director and head of investment banking Tan Ai Chin, Asian Development Bank private sector operations department infrastructure finance director Daniel Wiedmer and Credit Guarantee and Investment Facility chief credit risk officer Aarne Dimanlig.
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