Sime Darby Property Berhad announced that its wholly-owned subsidiary has entered into a conditional Sale and Purchase Agreement with SD Guthrie Berhad to acquire approximately 556.96 acres of freehold land in Kulai Johor for a purchase consideration of RM418.5 million.
The land is located along Jalan Kulai-Kota Tinggi within Flagship Zone F (Kulai-Sedenak) of the Johor-Singapore Special Economic Zone (“JS-SEZ”), the Group plans to develop the site into a sustainable township comprising landed residential and commercial developments, with an estimated Gross Development Value of approximately RM3 billion. The first phase is targeted for launch in 2028, with the overall development expected to be completed over the next 10 to 15 years.
The acquisition is expected to further strengthen Sime Darby Property’s established presence in Johor, complementing its existing developments in Bandar Universiti Pagoh and Taman Pasir Putih in Pasir Gudang. It also broadens the Group’s geographical earnings base beyond the Klang Valley and Negeri Sembilan, while reinforcing its long-term growth pipeline through
the addition of a sizeable strategic landbank in one of Johor’s key growth corridors.
Dato’ Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property, said, “The acquisition marks another strategic milestone for Sime Darby Property as we continue to strengthen our footprint in Johor. Located within the highly anticipated Johor- Singapore Special Economic Zone, this site presents an opportunity to create a sustainable
township.”
