Sime Darby Property $SIMEPROP (5288.MY)$ has announced the launch of a fund planning to invest up to RM12.5 billion in data centers and industrial projects within its townships across Malaysia.
The fund, named “New Economy Venture,” has already secured full capital commitments from the Employees Provident Fund (EPF), the Armed Forces Fund Board (LTAT), and Great Eastern Life Assurance Malaysia.
Sime Darby Property stated that the fund may also bring in additional limited partners in the future.
Through this fund, Sime Darby Property is further expanding the development focus of its townships into data centers and industrial assets to align with the demands of the new economy sectors.
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