- World’s first Green Sukuk to finance an energy-efficient hyperscale data centre development, underpinned by a Green Finance Framework independently assessed “Gold” by MARC Solutions Sdn Bhd (“MARC Solutions”).
- RM2.60 billion Sukuk Programme established to support the New Economy Venture (“NEV”) Fund, a RM1.25 billion discretionary, close-ended Shariah-compliant fund, focused on build-to-suit-to-lease data centres and industrial & logistics developments.
- Tailored dual-tranche financing structure comprising both guaranteed and nonguaranteed Sukuk financing supported by Maybank IB, OCBC Al-Amin, the Asian Development Bank, and Credit Guarantee & Investment Facility.
Kuala Lumpur, Malaysia – [28 July 2026] – Sime Darby Property NEV (Holdings) Sdn. Bhd. (“SDP NEV” or the “Issuer”), a member of Sime Darby Property Berhad’s (“Sime Darby Property” or the “Group”) New Economy Venture (“NEV”) platform, has established a Sukuk Programme of up to RM2.60 billion to finance the development of build-to-suit-to-lease data centres, and industrial & logistics assets, marking another milestone in the Group’s expansion into Malaysia’s fast-growing digital economy and industrial & logistics developments.
Under the Sukuk Programme, SDP NEV will issue the Green Sukuk to part-finance the development of hyperscale data centres, in Elmina Business Park, Sime Darby Property’s flagship industrial township. Sime Darby Property will design, construct, and deliver the development by 2027.
(From left - right): Daniel Wiedmer, Director, Infrastructure Finance, Private Sector Operations Department, Asian Development Bank; Dato' Sri Khairussaleh Ramli, President & Group Chief Executive Officer, Maybank; Dato’ Seri Azmir Merican, Group Managing Director & Chief Executive Officer, Sime Darby Property; Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking, OCBC; and Aarne Dimanlig, Chief Credit Risk Officer, Credit Guarantee And Investment Facility.
The hyperscale data centres are supported by a 20-year long-term lease with a globally renowned multinational technology company, underscoring its stability and institutional investment appeal. The transaction reflects Sime Darby Property’s continued focus on creating institutional-grade assets that generate recurring income while supporting Malaysia’s digital infrastructure ecosystem.
The proceeds of the Sukuk Programme will also be utilised to part-finance the development of a build-to-suit distribution warehouse equipped with advanced Automated Storage and Retrieval Systems located in the City of Elmina. The development is anchored by a 15-year long-term lease with a local hypermarket operator, with construction targeted for completion by end 2027.
Supporting Sustainable Development
To support the issuance, SDP 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. These include the Sustainable and Responsible Investment (“SRI”) Sukuk Framework 2014 by the Securities Commission Malaysia, the ASEAN Green Bond Standards 2018 issued by the ASEAN Capital Markets Forum, and the Green Bond Principles 2025 published by the International Capital Market Association.
This recognition highlights Sime Darby Property’s commitment in enabling sustainable digitalisation while positioning Elmina Business Park as Malaysia’s emerging digital hub. The Framework is publicly accessible on Sime Darby Property’s website.
Advancing Malaysia’s Digital Economy
The inception of the Green Sukuk, which is the first of its kind in the world for a data centre, marks a significant milestone for Sime Darby Property’s strategy, and aligns with Malaysia’s accelerating digital economy ambitions. Strategically located with robust infrastructure and a long-term industrial masterplan, Elmina Business Park has become one of Malaysia’s preferred destinations for global hyperscale operators seeking scalable and future-ready facilities supported by the country’s conducive investment ecosystem, renewable energy transition agenda and growing demand for digital infrastructure.
Through this Sukuk Programme, Sime Darby Property continues to strengthen its position as a leading developer of large-scale build-to-suit digital infrastructure for multinational technology companies. The initiative reinforces the Group’s strategy of expanding its recurring income while catalysing innovative funding structures into one of Malaysia’s fastest-growing economic sectors.
Dato' Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property said, “We are the first developer in Malaysia to bridge Sukuk financing with an institutional real estate private equity structure, supported by a ‘Gold’ graded Green Finance Framework that reinforces our commitment to sustainable growth and disciplined capital management. The RM2.6 billion Sukuk Programme marks a defining milestone in our SHIFT32 transformation, strengthening Sime Darby Property’s position in the rapidly growing new economy sector. As the general partner and manager of the NEV Fund, we are creating an institutional investment platform that enables us to develop high-quality build-to-suit assets required by global technology operators programmatically.”
“The collaboration and support from Maybank, OCBC, and the Asian Development Bank reflect confidence in our long-term strategy and the resilience of our investment platform. By leveraging our strategic landbank, development expertise and fund management capabilities, NEV expands our recurring income platform while creating sustainable long-term value for our investors and stakeholders,” Dato’ Seri Azmir concluded.
The Group currently manages approximately RM4.8 billion in Assets Under Management (“AUM”), supported by a long-term hyperscale data centre lease that came on stream in April 2026, and the Fund has already secured two strategic seed assets within Elmina Business Park and the City of Elmina, representing approximately 85% of its target fund size and supported by long-term lease arrangements that provide strong income visibility.
Financing Structure
The Sukuk Programme has been structured to support Sime Darby Property’s strategy of developing large-scale digital, industrial and logistics assets including a build-to-suit distribution warehouse. The key transaction parties include Maybank Investment Bank Berhad (“Maybank IB”) as Principal Adviser/Lead Arranger/Facility Agent. The Joint Lead Managers for the Sukuk Programme are Maybank IB and OCBC Al-Amin Bank Berhad (“OCBC”) while Credit Guarantee & Investment Facility (“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 Berhad as the Shariah Adviser, OCBC Al-Amin Bank Berhad as the Security Agent and MTrustee Berhad as the Sukuk Trustee.
The Sukuk Programme features a unique dual-tranche financing structure comprising both guaranteed and non-guaranteed issuances, enabling the issuer to access a diversified pool of investors, such as ADB, while optimising funding flexibility. The transaction is further distinguished by the participation of leading international institutions, including CGIF, which provides financial guarantee support for selected issuances under the programme. The combination of international credit enhancement, sustainability, and capital market innovation reinforces investor confidence and demonstrates the growing interest of multilateral institutions in supporting the development of sustainable digital infrastructure in Malaysia.
Dato' Sri Khairussaleh Ramli, President and Group Chief Executive Officer of Maybank said, “This landmark transaction underscores Maybank's role as a trusted partner in advancing Sime Darby Property’s digital economy ambitions, in line with our new economy and sustainability mandate under ROAR30. Sime Darby Property's NEV initiative will accelerate the development of energy-efficient hyperscale data centres, enabled by our innovative Green Sukuk structure that promotes sustainable digital infrastructure development. As Sole Principal Adviser and Sole Lead Arranger for this milestone financing, Maybank is proud to support the world's first Sukuk for data centre infrastructure financing. Together with Sime Darby Property, we are helping to build a resilient, future-ready digital ecosystem that supports the nation’s long-term growth ambitions.”
Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking of OCBC Bank (Malaysia) Berhad said, “We are deeply honored to be entrusted by Sime Darby Property to be one of the key financial partners for this landmark world’s first Green Sukuk Programme for digital infrastructure financing. This milestone partnership with Sime Darby Property exemplifies OCBC’s leadership position in green digital infrastructure financing, while reaffirming our commitment to championing sustainable finance integration across the Malaysian capital markets landscape.”
Nianshan Zhang, Director General for Southeast Asia of ADB said, “By combining scalable, energy-efficient data centers with green Islamic financing, this project supports Malaysia’s digital transformation and helps ensure the benefits of cloud services and digital platforms reach more people and businesses. This partnership with Sime Darby Property marks a new milestone in strengthening digital infrastructure and deepening our private sector engagement in Malaysia.”
Noriko Nasu, Chief Executive Officer of CGIF said “CGIF is pleased to have acted as the sole Financial Guarantor of the Guaranteed Tranche of this landmark transaction that uniquely features local financiers and multilaterals. This transaction strongly reinforces our mandate and commitment to advance sustainable infrastructure development, strengthen local capital markets, and mobilize private sector investment to support environmentally responsible projects in the region.”
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About Maybank
Maybank is among Asia’s leading financial group and Southeast Asia’s fourth largest bank by assets, with a significant global workforce and an extensive network spanning ASEAN and key international financial centres. Guided by its ROAR30 strategy, Maybank continues to Humanise Financial Services through values-based offerings that deliver exceptional customer experience, drive positive societal impact and power the real economy. The Group provides a comprehensive range of financial services across consumer and corporate banking, investment banking, Islamic banking, insurance and takaful, and asset management. (www.maybank.com)
Media Contact (Maybank Investment Bank)
Lynn Thakurta I lynn.thakurta@maybank.com
Malik Ridhwan Zaihan I malikridhwan.zaihan@maybank-ib.com
About Sime Darby Property Berhad
With over 50 years of experience, Sime Darby Property has evolved from a trusted developer of master-planned communities into a forward-looking real estate company, shaping sustainable ecosystems that support the way people live, work, and thrive. The company has long set the benchmark for quality, innovation and sustainability, delivering residential, integrated and high-rise developments across its 28 townships and developments throughout Malaysia.
Its core business is anchored in two segments: Property Development, which remains a market leader in township and integrated developments, and Investment & Asset Management, focused on driving long-term value creation through strategic asset ownership and management.
In line with its SHIFT32 strategy, Sime Darby Property is accelerating its transition from a pureplay property developer to a diversified real estate company, with a growing focus on recurring income streams. The company continues to lead the industrial and logistics segment through key developments such as Elmina Business Park, Bandar Bukit Raja, and Hamilton Nilai City, and is the first public-listed property developer in Malaysia to establish development funds in this sector.
As A Force For Good, the company has pledged to achieve Net Zero carbon emissions by 2050, referencing the Science Based Targets initiative (SBTi) to limit global temperature rise to 1.5°C. A strong advocate of ESG, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with an MSCI ESG Rating of BBB, is assessed by the CDP (Carbon Disclosure Project), and is included in both the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Shariah Index, affirming its commitment to strong ESG practices. Through its philanthropic arm, Yayasan Sime Darby, the company continues to deliver meaningful and lasting social impacts across the communities it serves.
Sime Darby Property has received numerous accolades, including being recognised as Malaysia’s number one property developer at The Edge Malaysia’s Top Property Developers Awards in 2024 and 2025. Other notable achievements include top honours at The Edge Malaysia Best Managed & Sustainable Property Awards 2025, wins at the FIABCI World Prix d'Excellence Awards, StarProperty Awards, Malaysia Developer Awards, Putra Brand Awards, PropertyGuru Asia Awards Malaysia, as well as its inclusion in the Fortune Southeast Asia 500 list for 2025 for the second consecutive year, reflecting its continued leadership in the industry.
For more information, please visit: www.simedarbyproperty.com
Media Contact: Hannah Rafee | +6017-878 8090 | hannah.rafee@simedarbyproperty.com
Norsyahmee Rizal Norazman | +6019-777 3829 | syahmee.norazman@simedarbyproperty.com
Hanie Nasir | +6019-725 7015 | hanie.afieqah@simedarbyproperty.com
For General Enquiries, please e-mail: group.communications@simedarbyproperty.com
About OCBC and OCBC Al-Amin Bank Berhad
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is one of the world’s most highly-rated banks, with Aa1 by Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker. OCBC is the second largest financial services group in Southeast Asia by assets. The Group offers a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. The Group’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has close to 400 branches and representative offices in 19 countries and regions.
OCBC offers Islamic banking products and services in Malaysia through its wholly-owned subsidiary, OCBC Al-Amin Bank Berhad.
Media Contacts:
Ann Lim I annlim@ocbc.com
Sharie Elina Ibrahim I sharieelina@ocbc.com
About the Asian Development Bank
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members — 50 from the region.
Media Contacts:
Andrew J. Achimu I aachimu@adb.org
About CGIF
CGIF is a multilateral facility established by the Association of Southeast Asian Nations (“ASEAN”) members, China, Japan, Korea (“ASEAN+3”) and Asian Development Bank (“ADB”). It is established as a trust fund of ADB with paid-in capital of USD 1,158 million from its Contributors. As a key component of the Asian Bond Markets Initiative (“ABMI”), CGIF was established to develop and strengthen local currency and regional bond markets in the ASEAN+3 region. CGIF commenced its guarantee operations on 1 May 2012 and seeks to provide credit enhancements, mainly in local currencies, issued by creditworthy ASEAN+3 domiciled bond issuers.
Media Contact:
Tuck Weng Leong I tleong@cgif-abmi.org
Media Enquiries I media@cgif-abmi.org
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