Sime Darby Property

What Sime Darby Property does

Sime Darby Property Berhad is a publicly listed Malaysian township developer (Bursa Malaysia: SIMEPROP) operating across residential, commercial, industrial, retail mall, and leisure/hospitality segments. Its core business is large-scale masterplanned township development: flagship properties include the 5,000-acre wellness-centric City of Elmina (incorporating the 1,500-acre Elmina Business Park—Klang Valley's largest freehold industrial park), KL East, Bandar Bukit Raja, Serenia City, Melawati, Subang Jaya City Centre, Bandar Universiti Pagoh, and the premium 360-acre KLGCC Resort enclave. The portfolio is geographically concentrated in Malaysia's Klang Valley and Southern Corridor growth zones, supplemented by a co-investment stake in the Battersea Power Station redevelopment in London with SP Setia.

The company monetises through three revenue streams: (1) one-time unit sales of residential landed and high-rise products spanning affordable housing under the Rumah Selangorku scheme (from RM250,000) to premium freehold condominiums and semi-detached homes (above RM4 million); (2) recurring rental and service income from an owned investment property portfolio encompassing retail malls (KL East Mall, Elmina Lakeside Mall which won 2026 FIABCI World Gold, KLGCC Mall), office towers, and hospitality assets (KLGCC Resort, Impian Golf Country Club, Sime Darby Convention Centre); and (3) an emerging fund management platform anchored by the RM1.25 billion Shariah-compliant New Economy Venture fund (June 2026 first close), in which Sime Darby Property acts as general partner and co-invests RM500.1 million alongside EPF, LTAT, and Great Eastern Life to develop build-to-suit-to-lease data centres and industrial logistics assets.

Distribution relies on a network of physical township sales galleries staffed by field executives, a website-based property search portal, and the PRIME loyalty app for community engagement and referrals. Enterprise clients—hyperscale data centre operators (Google, US$2 billion commitment for a data centre and Google Cloud region in Malaysia) and large retailers (Mydin Mohamed Holdings, RM450 million 15-year build-to-suit-to-lease automated distribution centre)—are engaged through direct corporate negotiation. FY2024 revenue was RM4.3 billion (net profit RM502.2 million, +23.1% YoY) and FY2025 revenue RM4.18 billion (net profit RM517.74 million, +3% YoY) on record property sales above RM4 billion for three consecutive years, supporting a FY2026 sales target of RM4 billion on RM4.7 billion GDV of planned launches.

Name

Sime Darby Property

Legal name

Sime Darby Property Berhad

Website

https://simedarbyproperty.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sime Darby Property is a publicly listed Malaysian township developer (Bursa Malaysia: SIMEPROP) building integrated residential, industrial, retail mall, and commercial assets across nine masterplanned communities in the Klang Valley and Southern Corridor, serving individual homebuyers, hyperscale data centre tenants, large retailers, and institutional fund investors.

Ownership category

akta.pro rank

Product category

Real Estate Development (Integrated Townships)

NAICS

Other Financial Vehicles (525990)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Industrial & Logistics Property Management (BPAJAGAC)

Keywords

• Township development
• Residential property sales
• Industrial real estate
• Commercial property leasing
• Retail mall management

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Property Development — Residential, Commercial, Industrial Sales: The core revenue driver: Sime Darby Property develops and sells residential (landed, high-rise), commercial (office, retail), and industrial (factories, warehouses, data centre facilities) properties across its township portfolio. FY2024 property sales exceeded RM4.1 billion for the first time. Revenue is primarily one-time from unit sales, with some build-to-suit-to-lease structures for industrial/data centre clients generating recurring lease income.
2. Investment & Asset Management — Recurring Income: The company owns and manages a portfolio of investment assets including retail malls (KL East Mall, Elmina Lakeside Mall, KLGCC Mall), office towers (Menara KLGCC, Metrohub 1 & 2), and hospitality/leisure venues (KLGCC Resort, Impian Golf Country Club, Sime Darby Convention Centre). These generate recurring rental income and service fees. The company is also considering a REIT listing to unlock recurring income from this segment.
3. Fund Management — New Economy Venture: Sime Darby Property launched a RM1.25 billion Shariah-compliant New Economy Venture fund targeting build-to-suit-to-lease data centres and industrial logistics. Acting as general partner and sponsor (committing RM500.1 million as co-investor), the company earns management fees and carried interest from institutional investors including EPF, LTAT, and Great Eastern Life.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Sime Darby Property is a Malaysian real estate developer that plans, builds and sells integrated townships and mixed-use developments across residential, commercial, industrial, retail and leisure segments. Its core offering includes large-scale master-planned townships (City of Elmina, KL East, Serenia City, Melawati, Bandar Bukit Raja, Subang Jaya City Centre), freehold industrial parks (Elmina Business Park), premium residences at KLGCC Resort, retail malls (KL East Mall, Elmina Lakeside Mall, KLGCC Mall) and build-to-suit-to-lease facilities for enterprise occupiers such as Google and Mydin. It also operates an investment & asset management platform and a RM1.25 billion New Economy Venture fund targeting data centres and industrial logistics.

Product overview

Sime Darby Property Berhad is a Malaysian real estate developer operating a diversified portfolio across residential (townships, landed homes, high-rise residences), commercial, industrial, retail malls, leisure/hospitality, and investment/asset management segments. The company develops large-scale townships including City of Elmina (5,000 acres), KL East (159 acres), Bandar Bukit Raja, Serenia City, Melawati, and Subang Jaya City Centre, alongside premium developments at KLGCC Resort. Industrial operations span Elmina Business Park (1,500 acres, Klang Valley's largest freehold industrial park), Bandar Bukit Raja Industrial Park, and Pagoh Special Economic Zone. Retail assets include KL East Mall, Elmina Lakeside Mall (FIABCI World Gold Award 2026), KLGCC Mall, and The Glades Plaza. International investments include Battersea Power Station in London. The company offers property management services, the PRIME customer loyalty app, automated distribution centre solutions, and manages a RM1.25 billion New Economy Venture fund for data centre and industrial assets.

Differentiator

Problem solved

Functional benefit

Products and services

• City of Elmina Township

Quantifiable outcome

• Record FY2024 property sales of RM4.1 billion — first time exceeding RM4 billion
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core, strategic and minor.

• GooglecoreStrategic or Co-development Partner · 27 March 2026Google announced a US$2 billion investment to establish its first data centre and Google Cloud region in Malaysia at Sime Darby Property's Elmina Business Park in Selangor. This marks Google's expansion into Southeast Asia, supporting core services and providing cloud capabilities for local businesses and public sector organisations. The partnership positions Elmina Business Park as a flagship data centre hub.
• Mydin Mohamed Holdings BhdcoreStrategic or Co-development Partner · 8 December 2025Sime Darby Property and Mydin held a groundbreaking ceremony on 8 December 2025 for a RM450 million automated distribution centre in City of Elmina. The 19-acre, 786,000 sqft facility will be built under Sime Darby Property's build-to-suit-to-lease model with a 15-year lease, featuring PTT Synergy Group's automated storage system. Mydin plans to use the centre as the backbone of its nationwide expansion.
• PTT Synergy Group Bhd / PTT Robotics Sdn BhdcoreTechnology or Integration · 8 December 2025PTT Robotics, a 70%-owned subsidiary of PTT Synergy Group, is the automation technology provider for the RM450 million automated distribution centre with Mydin and Sime Darby Property. Its automated storage and retrieval system (ASRS) is expected to achieve a 240% throughput increase and 50% reduction in manual labour. PTT Synergy Group's wholly-owned subsidiary Pembinaan Tetap Teguh Sdn Bhd also holds a RM31.68 million construction contract from Sime Darby Property (Bukit Raja) Sdn Bhd for the Bandar Bukit Raja Stage 3 project.
• Tropical Rainforest Conservation and Research Centre (TRCRC)strategicStrategic or Co-development PartnerSime Darby Property co-established the Elmina Rainforest Knowledge Centre (ERKC) with TRCRC — a hub for forestry research, conservation, education, and recreation within City of Elmina. ERKC connects communities with nature through restoration programmes, hands-on learning, and engages activities while championing biodiversity protection.
• SP SetiaminorStrategic or Co-development PartnerSP Setia and Sime Darby Property are co-investors in the Battersea Power Station redevelopment project in London. Executives from both Malaysian companies sit on the Battersea board. This international investment partnership represents a diversification beyond Malaysia for both developers.

Scale indicators19 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• IOI Properties Group Berhad: Major Malaysian developer of integrated townships and commercial projects, including KL East developments and IOI Resort City. Competes directly with Sime Darby Property across residential, commercial, and industrial real estate in the Klang Valley.
• Mah Sing Group Berhad: Established Malaysian developer with township and high-rise residential projects across the Klang Valley, Johor, and Penang. Comparable in offering affordable to mid-market residential units and is a frequent competitor in Sime Darby Property's core geographic markets.
• Gamuda Berhad: Malaysian infrastructure and property group with large-scale townships (Gamuda Cove, Gamuda Gardens) and industrial parks. Comparable in township masterplanning expertise and in pursuing new-economy industrial and data centre adjacencies.
• Eco World Development Group Berhad: Malaysian township developer with large-scale integrated developments (e.g., Eco World, Setia Alam) targeting similar customer segments as Sime Darby Property, including industrial and commercial sub-clusters within its townships.
• UEM Sunrise Berhad: Listed developer of Iskandar Malaysia and Mont'Kiara projects with mixed-use and high-rise residential offerings. Comparable in scale and geographic overlap with Sime Darby Property's Klang Valley residential and commercial portfolio.
• Matrix Concepts Holdings Berhad: Mid-cap Malaysian developer focused on integrated townships and industrial parks in Negeri Sembilan. Comparable in industrial land bank development and small-town township strategy, particularly relevant to Sime Darby Property's Nilai Impian and Bandar Ainsdale projects.
• SP Setia Berhad: Malaysia's largest property developer by revenue, with comparable township developments (e.g., Setia Alam, Setia Eco Park) across residential, commercial, and industrial segments. SP Setia is also Sime Darby Property's co-investor in the Battersea Power Station project in London, making it both a peer and a strategic partner.
• Sunway Berhad: Integrated Malaysian conglomerate with significant property development (Sunway City, Sunway Damansara) and investment property components (Sunway REIT), competing directly with Sime Darby Property in mixed-use townships and asset-managed commercial real estate.

Broad incumbents

• CapitaLand Investment: Singapore-based asset manager and developer with global footprint in integrated developments, data centres, and REITs. Relevant as a broader incumbent benchmark for Sime Darby Property's ambitions in fund management, industrial REITs, and mixed-use development in Southeast Asia.
• City Developments Limited: Singapore-listed international real estate group with mixed-use and investment property activities globally. Relevant comparable for Sime Darby Property's KLGCC Resort premium residential and asset management segments, and as a regional peer in integrated development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/sime darbypropertyofficial
• Facebookfacebook.com/SimeDarbyProperty
• LinkedInlinkedin.com/company/sime-darby-property-berhad/jobs
• Instagraminstagram.com/simedarbyproperty
• TikToktiktok.com/@simedarbyproperty
• Xx.com/simeproperty

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sime Darby Property