Sime Darby Property Eyes 2028 REIT Listing to Unlock Industrial Asset Value

Sime Darby Property Bhd is looking at launching a REIT in 2028, with its portfolio expected to comprise predominantly of industrial units and data centers.

This would allow the Malaysian firm to monetize properties it already owns while releasing funds for other ventures. However, the listing is still under consideration and has not been confirmed.

The proposed portfolio could include two data centres backed by 20-year leases. Logistics and warehouse properties at E-Metro Logistics Park in Klang are also being considered. The park was developed through a joint venture with ESR Group.

Moving into Heavy Industrial Parks

Industrial development is another area where Sime Darby Property is looking to expand. The company, which has been involved in light and medium industrial projects, is now moving into heavy industrial parks through joint ventures.

One of the projects in its pipeline is BBR North, a 1,021.9-acre industrial and logistics hub in Mukim Jeram, Kuala Selangor. The development is being undertaken with SD Guthrie Bhd, with its launch scheduled for the second half of 2027.

Interest from overseas investors, particularly Chinese investors, has also been noted in connection with the company's industrial property opportunities.

Solar Projects Also Under Consideration

The company's plans extend beyond property development. Sime Darby Property is looking at the possibility of using some of its non-core land holdings for solar energy projects, including land in Kedah.

The idea is to supply renewable energy to industrial and data centre customers. Joint ventures are among the options being considered, which could help the company pursue these projects without taking on the full upfront investment.

For now, the proposed REIT remains at the planning stage. Its potential portfolio, however, reflects the company's growing focus on industrial property, logistics and data centre assets.