KUALA LUMPUR: Sime Darby Property
NEV (Holdings) Sdn Bhd (SimeProp NEV), a member of SimeProp’s New Economy Venture platform, has established a sukuk programme of up to RM2.6bil to finance the development of build-to-suit-to-lease data centres (DCs) alongside industrial and logistics assets.
The initiative marks a significant milestone in the group’s strategic expansion into Malaysia’s fast-growing digital economy and logistics sector.
Under the new programme, the issuer will deploy a green sukuk to part-finance the development of hyperscale DCs in Elmina Business Park.
Elmina Business Park is SimeProp’s flagship industrial township.
The group will handle the design, construction and delivery of the DCs, with completion targeted for 2027.
The hyperscale DC project is backed by a 20-year long-term lease with a globally renowned multinational technology company, underscoring the asset’s stability and institutional investment appeal.
This transaction aligns with SimeProp’s broader focus on creating high-quality, institutional-grade assets that yield recurring income while strengthening Malaysia’s digital infrastructure ecosystem.
Capital raised through the sukuk programme will also help part-finance a build-to-suit distribution warehouse in the City of Elmina equipped with advanced automated storage and retrieval systems.
Anchored by a 15-year lease with a local hypermarket operator, the logistics facility is also slated for completion by the end of 2027.
In a statement, group managing director and chief executive officer Datuk Seri Azmin Merican said SimeProp NEV established a green finance framework, which was independently reviewed by MARC Solutions and awarded a “gold” impact assessment, demonstrating strong alignment with green finance best practices.
The key transaction parties include Maybank Investment Bank Bhd (Maybank IB) as principal adviser, lead arranger and facility agent.
The joint-lead managers for the sukuk programme are Maybank IB and OCBC Al-Amin Bank Bhd while Credit Guarantee & Investment Facility or CGIF serves as the financial guarantor of the guaranteed tranche.
The transaction is further underpinned by Maybank IB and the Asian Development Bank (ADB) acting as the joint-sustainability structuring advisers for the sukuk programme, Maybank Islamic Bhd as the syariah adviser, OCBC Al-Amin Bank as the security agent and MTrustee Bhd as the sukuk trustee.
“The collaboration and support from Maybank, OCBC and ADB reflect confidence in our long-term strategy and the resilience of our investment platform,” said Azmin.
