Sime Darby Property shareholders have approved the group’s proposed acquisition of three parcels of freehold land
in Kapar, Klang for a cash consideration of RM618 million.
The Kapar land acquisition is in line with Sime Darby Property’s SHIFT25 strategy, which aims to transform the company from a pure play property developer into a real estate company by broadening and diversifying its income streams. This strategic move will contribute positively to the growth of Sime Darby Property’s industrial and logistics development business.
Dato’ Azmir Merican, Sime Darby Property’s Group Managing Director, said, “This latest land acquisition dovetails directly into our strategy of strengthening our industrial development portfolio. It is a significant milestone in our transformation journey as we build a sustainable and innovative real estate Group.”
Located within Bandar Bukit Raja, the Kapar land’s proximity to major cities such as Klang and Shah Alam, coupled with excellent connectivity through the ongoing construction of the East Coast Rail Link (“ECRL”) and the West Coast Expressway (“WCE”), positions it as an ideal location for industrial and logistics businesses.
The proposed development of the Kapar land will be carried out in phases over a period of 10 to 15 years, with an estimated gross development value of between RM5 billion and RM6 billion. Sime Darby Property aims to create an integrated and sustainable industrial development, incorporating green initiatives to meet the growing demand for high-technology
industrial facilities with sustainable building elements.
