IJM wins RM1.26b main works for SDP’s hyperscale data centre; build-and-lease with Pearl Computing

Sime Darby Property Bhd (SDP) has appointed IJM Construction Sdn Bhd to deliver the main building works for a new hyperscale data centre at Elmina Business Park. The RM1.26 billion contract covers construction, completion, testing and commissioning of the core & shell, plus related infrastructure.

Timeline & delivery

This facility sits under SDP’s long-term build-and-lease agreement (announced Dec 2024) with Pearl Computing Malaysia Sdn Bhd, a wholly-owned unit of Raiden APAC Pte Ltd. The arrangement underpins stable recurring income once the asset is operational.

Scale & strategic fit

Spanning ~77 acres, the project strengthens Elmina Business Park’s positioning as a technology-driven hub and supports SDP’s SHIFT25 strategy by expanding recurring income under the Investment & Asset Management division.

What they said

SDP highlighted the partnership with IJM’s track record in complex, large-scale projects, calling the facility “mission-critical” digital infrastructure to meet global demand.

What this means for unitholders?

Stability: Long lease structure with automatic renewals supports predictable, recurring cash flow.

Quality tenant: PK Fertilizers anchors the asset, reducing near-term vacancy risk.

Industrial tilt: Adds scale in Johor’s industrial corridor, aligning with the REIT’s strategy to diversify and enhance resilient income.

Quick FAQs

Contractor: IJM Construction Sdn Bhd (wholly-owned subsidiary of IJM Corp)

Value & scope: RM1.26b; main building works for core & shell + infra.

Programme: Start Q4 2025 → Target Q2 2027 completion.

Commercial model: Long-term build-and-lease with Pearl Computing Malaysia (Raiden APAC).

Location/scale: Elmina Business Park, ~77 acres technology-focused development.

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Article Information Source: EdgeProp

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