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Sime Darby Property has launched a Shariah-compliant investment fund worth 1.25 billion ringgit (USD 307.7 million) to support the development and leasing of data centres, industrial facilities and logistics assets in Malaysia. The New Economy Venture fund achieved full capital commitments at its first close, backed by major institutional investors. The five-year fund has already secured two seed assets located in Elmina Business Park and the City of Elmina, representing about 85% of its target size. Construction has commenced on both projects, with completion scheduled for the second half of 2027.
Sime Darby Property has launched a 1.25 billion ringgit (USD 307.7 million) Shariah-compliant fund aimed at developing and leasing data centres, industrial facilities and logistics assets, strengthening its presence in sectors benefiting from growing digital and industrial demand.
Known as the New Economy Venture fund, the investment vehicle secured full capital commitments at its first close from several institutional investors. These include the Employees Provident Fund, Lembaga Tabung Angkatan Tentera and Great Eastern Life Assurance Malaysia, reflecting strong investor interest in Malaysia’s expanding industrial and digital infrastructure segment.
Under the structure of the fund, Sime Darby Property will serve as both the sponsor and general partner while also participating as a co-investor. The company has committed 500.1 million ringgit toward the fund, demonstrating its long-term commitment to the strategy.
The five-year fund has already secured two seed assets located within Elmina Business Park and the City of Elmina, two key developments within Sime Darby Property’s portfolio. According to the company, these assets account for approximately 85% of the fund’s targeted size and are supported by long-term lease arrangements, providing a stable income base.
Construction activities for both assets are already underway. The projects are expected to be completed in the second half of 2027 and are anticipated to support increasing demand for data centre infrastructure and modern industrial facilities in the region.
The fund launch comes as Malaysia continues to attract investments in data centres and logistics infrastructure, driven by rising digitalisation, cloud computing adoption and growing demand for industrial space. In recent years, the country has emerged as a preferred destination for data centre investments due to its strategic location, improving connectivity and supportive policy environment.
Source Reuters
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