Sime Darby Property sets up RM2.6 billion sukuk to fund Elmina hyperscale data centres

Green sukuk advances Sime Darby Property's recurring-income strategy

Sime Darby Property Bhd has established a RM2.6 billion Green Sukuk Programme to finance hyperscale data centres and industrial and logistics assets, marking what the company describes as the world's first green sukuk dedicated to data centre financing. The programme, established through Sime Darby Property NEV (Holdings) Sdn Bhd, will support the group's New Economy Venture (NEV) platform, including its RM1.25 billion Shariah-compliant NEV Fund, which invests in build-to-suit leased data centres and industrial and logistics assets.

Part of the proceeds will fund a hyperscale data centre at Elmina Business Park, backed by a 20-year lease with a multinational technology company and targeted for completion in 2027. The sukuk will also part-finance a build-to-suit automated distribution warehouse in the City of Elmina, secured by a 15-year lease with a local hypermarket operator, with completion also scheduled for end-2027. Sime Darby Property said the initiative supports its SHIFT32 strategy of expanding recurring income through institutional-grade real estate. The NEV Fund has already secured two seed assets representing approximately 85% of its target fund size, while the group manages about RM4.8 billion in assets under management. The programme is underpinned by a Green Finance Framework independently assessed by MARC Solutions Sdn Bhd, which awarded it a Gold impact assessment. The framework aligns with the Securities Commission Malaysia's Sustainable and Responsible Investment Sukuk Framework 2014, the ASEAN Green Bond Standards 2018 and the International Capital Market Association's Green Bond Principles 2025.

Maybank Investment Bank Bhd is principal adviser, lead arranger and facility agent, while Maybank Investment Bank and OCBC Al-Amin Bank Bhd are joint lead managers. The Credit Guarantee and Investment Facility is financial guarantor for the guaranteed tranche, with the Asian Development Bank and Maybank Investment Bank serving as joint sustainability structuring advisers.

Beverly Group plans RM1.1 bil serviced apartment development on freehold TRX site

Beverly Group is planning a RM1.1 billion serviced apartment development on a 1.08-acre freehold parcel in Tun Razak Exchange (TRX), marking its entry into Kuala Lumpur's luxury residential market, according to a report by The Edge.

The project, to be developed through a joint venture with Adamantine Capital Pte Ltd and MYM Land Sdn Bhd, is targeted for launch in the fourth quarter of 2026. It will comprise 315 units ranging from 688 sq ft to 3,600 sq ft, with indicative prices from RM1.7 million. Selected larger units will feature private lift lobbies.

Separately, Beverly Group said Phase 2 of One Equine in Seri Kembangan achieved an 85% Qlassic score upon completion this month. Developed by Enso Development, a joint venture between Beverly Group and Surbana Jurong, the project comprises 2,819 serviced apartment and SoHo units with a gross development value of RM1.02 billion and is fully sold.

CapitaLand Malaysia Trust's quarterly net property income rises 12.5% to RM77.4 million

CapitaLand Malaysia Trust (CLMT) posted a 12.5% year-on-year increase in net property income to RM77.4 million for the quarter ended June 30, supported by stronger portfolio performance and lower property operating expenses. Gross revenue rose 6.3% to RM123.1 million, while distributable income increased 25.6% to RM43.4 million.

The trust declared a quarterly distribution of 1.29 sen per unit, bringing first-half DPU to 2.65 sen, up 7.7% year on year. The distribution is payable in September and will be accompanied by a distribution reinvestment plan. For the first half, gross revenue increased 6.1% to RM250.4 million, while net property income climbed 13.6% to RM157.8 million.

CEO Yong Su-Lin said the trust maintained portfolio occupancy of 94.4% while recording 11.6% positive retail rental reversions, adding that CLMT would continue rejuvenating its portfolio prudently amid global uncertainty. Units closed unchanged at 61 sen, giving the trust a market capitalisation of approximately RM2.05 billion.

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Sime Darby Property established a RM2.6 billion Green Sukuk Programme to fund hyperscale data centres and an automated logistics warehouse in Elmina, both backed by long-term leases and targeted for completion in 2027. Beverly Group announced plans for a RM1.1 billion serviced apartment development on a freehold TRX site, marking its entry into Kuala Lumpur's luxury residential market, while CapitaLand Malaysia Trust reported stronger quarterly earnings, higher distributable income and continued positive rental reversions. Elsewhere, Menara Merdeka 118 was renamed Menara Merdeka Maybank following the bank's headquarters relocation, Palm Springs Development launched its RM700 million Xanadu Millennium project with more than 50% take-up, Tan Sri Lee Kim Yew increased his deemed stake in Country Heights, Gadang extended the conditional period for its Rumah Selangorku land disposal, GDB secured a favourable High Court ruling in the 8 Conlay dispute, PRG's former group managing director called for a resolution to the company's shareholder impasse, and UEM Edgenta secured the project management consultancy role for the Batang Lupar 1 Bridge.