Sime Darby Property acquires Kulai land for RM418.5 million

Sime Darby Property is expanding its footprint in Johor with the acquisition of 225.39 hectares of freehold land in Kulai for RM418.5 million. The company's wholly-owned subsidiary, Sime Darby Property (Kulai) Sdn. Bhd., finalized a conditional sale and purchase agreement with SD Guthrie Berhad for the land.

This strategic move positions the company within the Johor-Singapore Special Economic Zone (JS-SEZ). The land is slated for development into a sustainable township, featuring landed and commercial properties. The project boasts an estimated Gross Development Value (GDV) of RM3 billion and is expected to launch its first phase in 2028. The entire development is projected to take between 10 to 15 years to complete.

Datuk Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property, highlighted the acquisition as a significant milestone. "Located within the high-potential JS-SEZ economic zone, this site offers a prime opportunity for us to build a sustainable township that meets current market demand," he stated. He added that the strategic location and substantial land size position the company well to support local economic activities and contribute to Johor's long-term growth.

The development area benefits from excellent connectivity, including major highways, Senai International Airport, and the Electric Train Service (ETS). It is also situated near key industrial hubs like Senai Airport City and Sedenak Tech Park (STeP), as well as popular retail and recreational facilities such as Johor Premium Outlets (JPO). This acquisition aligns with Sime Darby Property's SHIFT32 strategy, aiming to diversify its geographical income base.