Press Release: Sime Darby Property Acquires Strategic Land in Kulai for RM418.5 Million, Strengthening Johor-Singapore Special Economic Zone Presence
Sime Darby Property Berhad (“Sime Darby Property” or the “Group”) announced that its wholly-owned subsidiary, Sime Darby Property (“Kulai”) Sdn Bhd, has entered into a conditional Sale and Purchase Agreement with SD Guthrie Berhad (“Guthrie”) to acquire approximately 556.96 acres of freehold land in Kulai Estate, Kelan Division, Mukim Senai, District of Kulai in the State of Johor Darul Ta’zim, for a purchase consideration of RM418.5 million.
Strategically 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 (“GDV”) 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 that builds on our proven track record of developing integrated, thriving communities.”
“With its excellent location and sizeable land area, we are well-positioned to deliver a distinctive development that meets evolving market demand while supporting economic activity, creating employment opportunities, and contributing to Johor’s long-term growth. This acquisition also reinforces our disciplined commitment to expanding our development portfolio in locations with strong future potential,” Dato’ Seri Azmir added.
Strategic Connectivity and Accessibility
Strategically located along Jalan Kulai-Kota Tinggi, the site enjoys excellent road, air and rail connectivity via the North-South Expressway, Senai International Airport, the Electric Train Service (“ETS”) and Shuttle Selatan, and is situated adjacent to Bandar Putra, an established mixed-use township within the Senai-Kulai growth corridor. The surrounding area is also home to established industrial and business hubs, including Senai Airport City, i-Park @ Senai, and Sedenak Tech Park (“STeP”).
Future residents and businesses will benefit from easy access to retail, healthcare, education, transportation and recreational amenities, including Johor Premium Outlet, AEON Mall, Lotus’s, Hospital Temenggong Seri Maharaja Tun Ibrahim, Senai International Airport, the Kulai Railway and Kulai Bus Stations, and Palm Resort Golf & Country Club.
This acquisition reinforces Sime Darby Property’s disciplined approach to strategic land banking under its SHIFT32 strategy, strengthening the Group’s long-term development pipeline while expanding its presence in one of Malaysia’s fastest-growing economic corridors.
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