Daily Digest · Thursday, 9 July 2026· Updated: about 2 hours ago
Malaysia enters second data centre wave with mega-campuses, industrial park sell-out
Data centre demand drove the property news between the July 8 cutoff and this morning. Kenanga said a second construction wave is under way just as Pekat Group booked fresh earthing contracts and Selangor’s COMPASS @ Kota Seri Langat sold its final plot to a data centre developer. Elsewhere, official data sized Malaysia’s holiday-home industry at RM2.2 bil, Cagamas launched a term-based reverse mortgage for older homeowners, SÓL Estate signed operators for a Kuching wellness hub, and Putrajaya signalled changes to Felda land rules.
Quick takes
- Kenanga Investment Bank said a second wave of data centre construction is under way, with a pipeline of 17 to 21 mega-campus structures across Negeri Sembilan, Selangor and Johor.
- Pekat Group won two data centre earthing and lightning contracts worth RM46.94 mil, while COMPASS @ Kota Seri Langat sold its final plot to a data centre developer, reaching full take-up.
- The Department of Statistics counted 71,101 holiday homes generating an estimated RM2.2 bil in 2025, its first breakdown of the industry by state and district.
- Cagamas launched a term-based reverse mortgage for homeowners aged 60 to 70, its second such product after the 2021 scheme for those aged 55 and above.
- EXAL Malaysia’s SÓL Estate in Kuching signed more than 10 operators for what it calls Sarawak’s first landed-residential wellness hub.
- The government is considering amendments to allow more than one house on a Felda lot, while Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi proposed returning part of FGV-managed land to Felda.
Kenanga flags a second data centre construction wave under way as Pekat Group books RM46.94 mil in fresh earthing contracts
Kenanga Investment Bank said Malaysia has entered a second wave of data centre construction, arriving just as public infrastructure roll-outs slowed. In a construction sector note today, the research house counted a pipeline of 17 to 21 new mega-campus structures across Negeri Sembilan, Selangor and Johor, with up to four project roll-outs expected in the remaining months of 2026.
National utility Tenaga Nasional signed energy supply agreements for three more data centres in the first quarter of 2026, bringing the total to 59 projects, of which 36 are complete. Kenanga kept its "overweight" call on construction, citing sustained capital commitments from global technology firms through 2026.
The same day, Pekat Group secured two contracts worth RM46.94 mil to supply and install earthing and lightning protection systems for data centres, comprising a RM19.73 mil job for a hyperscale facility in Port Dickson, Negeri Sembilan, due by June 30, 2027, and a RM27.21 mil job in Johor due by September 19, 2027. CEO Tai Yee Chee said the wins reflect client confidence in the group’s power-protection work.
Why it matters
Construction award value fell in the first half of 2026, to RM108 bil from RM125 bil a year earlier, and infrastructure made up just 12% of the total as public roll-outs thinned. The offset is private: data centres now anchor the sector’s order pipeline, and same-day contract flow such as Pekat’s shows the demand converting into work for local suppliers rather than remaining a forecast.
Official data counts 71,101 holiday homes generating RM2.2 bil in 2025, the first such breakdown by state and district
Malaysia had 71,101 holiday homes operating in 2025, generating an estimated RM2.2 bil in revenue, according to the "Holiday Homes Statistics Bulletin: Economic Census 2026" published by the Department of Statistics Malaysia. It is the first official publication to map the industry by state and district.
Selangor recorded the highest number of holiday homes, followed by Kuala Lumpur and Johor. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the segment supports tourism, food and beverage, retail and recreation, and provides income for local communities and smaller enterprises.
Mohd Uzir described the bulletin as an evidence base for policymaking and tourism planning, noting that it captures the geographical distribution of the industry for the first time.
Why it matters
The bulletin is descriptive rather than regulatory, and it does not settle the friction between short-term letting and strata residents. It does, however, give planners and local authorities their first official read on where holiday-home activity concentrates, which is the evidence base any future licensing or zoning rules would draw on.
Also on the radar today
COMPASS @ Kota Seri Langat sells final plot to data centre buyer, reaching full take-up
COMPASS IP has signed a sale and purchase agreement for a 36-acre (14.6ha) plot at the COMPASS @ Kota Seri Langat industrial park in Selangor, the final phase of the 220-acre freehold managed park and the point of its full take-up. The buyer, Global Data Infrastructure, plans a data centre drawing 300 MVA of power and a 210 MW IT load. COMPASS IP is a joint venture of Permodalan Nasional via MIDF Property, retirement fund KWAP via KWEST, and the AREA group; director Datuk Stewart LaBrooy said Selangor is drawing a rising share of data centre investment alongside Johor.
Cagamas opens term-based reverse mortgage for homeowners aged 60 to 70
National mortgage corporation Cagamas launched Skim Saraan Bercagar Bertempoh (SSBT), a reverse mortgage that lets homeowners aged 60 to 70 convert home equity into a regular income stream with an upfront lump sum and a fixed payout period. The scheme rolls out first in the Klang Valley. It is Cagamas’ second reverse mortgage product after the 2021 Skim Saraan Bercagar for owners aged 55 and above; chief executive Kameel Abdul Halim framed it as a response to an ageing population.
SÓL Estate signs operators for Sarawak's first landed-residential wellness hub
Developer EXAL Malaysia exchanged memorandums of understanding with more than 10 partners for what it calls Sarawak’s first Lifestyle and Wellness Hub set within a landed residential development, at its SÓL Estate project in Kuching. The first phase is anchored by 12 operators spanning healthcare, pharmacy, fitness, childcare and food and beverage, with plans to grow to between 25 and 30 over time. Managing director Albert Ko described the concept as a “Third Place” for multi-generational community living.
Putrajaya signals changes to Felda land rules
Prime Minister Datuk Seri Anwar Ibrahim said the government is considering amending the law to allow more than one home to be built on a Felda lot. Separately, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi proposed returning a portion of FGV-managed land to Felda.
EdgeProp, Bernama (8 July 2026).
Today's roundup
Data centre activity accounted for most of the day’s main news. Kenanga called a second construction wave just as Pekat booked fresh contracts and COMPASS @ Kota Seri Langat sold out to a data centre buyer. Away from the sector, official data sized the holiday-home industry at RM2.2 bil, Cagamas widened its reverse mortgage range for older owners, SÓL Estate assembled operators for a Kuching wellness hub, and Putrajaya signalled changes to Felda land rules. Coverage spans the July 8 cutoff through early July 9, 2026.
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