Sime Darby Property announced that it has entered into an agreement to build and lease with Pearl Computing Malaysia Sdn. Bhd., a wholly-owned subsidiary of Raiden APAC Pte. Ltd. a hyperscale data centre in Elmina Business Park.
Pearl Computing is a private limited company incorporated in Malaysia and wholly owned subsidiary of Raiden APAC Pte. Ltd., a company incorporated in Singapore, part of a multinational technology corporation headquartered in the United States.
Under the agreement, SBP will design, construct and complete the project on land measuring approximately 49 acres in aggregate situated in Elmina Business Park in accordance with the client’s specifications. After which the company will lease the data centre from SDP for 20 years.
SDP said the rent during the lease period shall be determined based on the final gross development cost of the Project, which is in turn to be determined upon the finalisation of the Project’s final accounts. The total value of rent payable to the
Lessor by the Lessee over the Initial Term of the lease is estimated to be up to RM2 billion.
Earlier today, Group Managing Director Dato Azmir Merican told BusinessToday, that SDP will not discount venturing into data centre projects leaving hints to the latest announcement.
