ARA DAMANSARA: Sime Darby Property Bhd (SDP) established a Sukuk Wakalah Programme of up to RM2.6bil through its subsidiary, Sime Darby Property NEV (Holdings) Sdn Bhd, to support the development of new economy assets. These include industrial, logistics and data centre projects.

The programme will finance the development pipeline under the group’s New Economy Venture (NEV) fund, including its two previously announced seed assets. According to SDP, it represents the world’s first Sukuk financing structure dedicated to data centre infrastructure.

"The establishment of the Sukuk Programme marks another significant milestone in the growth of the New Economy Venture fund and reinforces our efforts to develop high-quality, new economy assets in the industrial, logistics and data centre space," said SDP group managing director and chief executive officer Datuk Seri Azmir Merican.

In conjunction with the programme, Sime Darby Property NEV also introduced a Green Finance Framework which received a Gold Impact Assessment from MARC Solutions Sdn Bhd. The framework enables future green Sukuk issuances to align with recognised sustainability standards and supports the group's broader environmental goals.

"The support from a strong consortium of financial institutions, together with the introduction of our Green Finance Framework, reflects confidence in our long-term vision and supports our aspiration to create sustainable value for our stakeholders. Looking ahead, this capital framework positions us to accelerate our development pipeline while strengthening our fund management capabilities under our SHIFT32 strategy,” he continued.

Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.