Sime Property JV seen to broaden income stream

According to Maybank Investment Bank Research (Maybank IB), the JV will enhance its investment and asset management business, which manages over five million square feet of total net lettable area and broaden the group’s income stream beyond property development. “More importantly, it provides an additional recurring income source to SimeProp group,” the research house said in its latest report.

PETALING JAYA: Sime Darby Property Bhd’s (SimeProp) joint venture (JV) to create a fund platform will support the property developer’s efforts to transform into a real estate player.

According to Maybank Investment Bank Research (Maybank IB), the JV will enhance its investment and asset management business, which manages over five million square feet of total net lettable area and broaden the group’s income stream beyond property development.