Press Release: Sunway City Iskandar Puteri seals RM380 million land deal for data centres
Singapore-headquartered Equalbase acquires 64-acre land in Sunway’s flagship city in Johor, one of the largest data centre markets in Southeast Asia
Sunway City Iskandar Puteri, 2 July 2024 – Sunway Group (“Sunway”) sealed a deal worth more than RM380 million today that will see Equalbase Pte Ltd (“Equalbase”) acquiring two parcels of land spanning 64 acres in Sunway City Iskandar Puteri (“SCIP”), Johor, for data centres development.
The latest investment by Equalbase builds upon Equalbase Sunway 103°, a Sunway and Equalbase Group joint venture sitting on a Free Commercial Zone with a gross development value (“GDV”) of RM8 billion for the carbon-neutral logistics hub in SCIP, Johor.
SCIP’s Chief Executive Officer Gerard Soosay said, “This disposal reaffirms Sunway’s strategic vision to create value and maximise the growth potential of SCIP in Iskandar Malaysia, Johor. SCIP is strategically located just five kilometres from the Second Link, allowing it to leverage its close proximity to Singapore.”
Gerard further commented, “It underscores investor confidence in Johor, and our commitment to making SCIP the centrepiece of Malaysia’s southern development corridor, attracting investments from around the world. This proposed disposal will provide an opportunity to realise gains and unlock the value of Sunway’s original investment.”
Equalbase Executive Chairman Christian Bischoff said, “We’ve been through extensive preparation for this major milestone for our group and our partners to aggregate and secure all required components to make this project a thorough success.
I am confident that we are building one of the most sustainable data centres today. We will integrate all critical elements within our group.
Equalbase, together with other companies under its group, directly controls, designs, develops, invests and manages essential areas, such as clean energy production, battery storage systems and new, innovative water solutions.”
Johor’s strategic location in the Asia Pacific has seen the likes of large global players such as Microsoft, Nvidia and Amazon making immense investments to establish data centres to power their artificial intelligence capabilities, big data infrastructure, and cloud computing services, among others.
The proposed data centres development will further propel Johor’s economic growth and add to SCIP’s vibrant ecosystem, elevating the city’s appeal to high-income professionals and global corporations looking to establish a regional headquarters.
With an estimated GDV of RM30 billion and a 250,000-strong community when fully developed, the 2,000-acre township is a sustainable and integrated city encompassing retail malls, leisure, hospitality, theme parks, hotels, commercial offices, integrated healthcare facilities and educational institutions, among others.
The upcoming 4-kilometre Rapid Transit System (“RTS”) Link, targeted to commence operations by end-2026, will further improve connectivity between Singapore and the Iskandar Malaysia region.
The proposed establishment of a Johor-Singapore Special Economic Zone (“JS-SEZ”) will be catalytic to turbo charge economic growth in Johor and elevate Johor to be a developed state in Malaysia by 2030.
Aerial view of Sunway City Iskandar Puteri overlooking the Malaysia–Singapore Second Link
The Central Business District (CBD) of Sunway City Iskandar Puteri
-END-
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles.
