• Acquisition of approximately 556.96 acres of freehold land within the Johor-Singapore Special Economic Zone strengthens the Group's strategic landbank and footprint in Johor.

• The site is earmarked for a sustainable township development with an estimated Gross Development Value of approximately RM3 billion.

• Advances the Group's SHIFT32 strategy, expanding the Group's earnings base in Johor and supporting its long-term portfolio expansion.

ARA DAMANSARA, 11 August 2026 – 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.

Sime Darby Property’s Group Managing Director & Chief Executive Officer, Dato’ Seri Azmir Merican, said this acquisition marks another strategic milestone for the Group as it strengthens its footprint in Johor and positions the site for a sustainable township development with an estimated Gross Development Value of approximately RM3 billion.

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.

-END OF PRESS RELEASE-

About Sime Darby Property Berhad

With over 50 years of experience, Sime Darby Property has evolved from a trusted developer of master-planned communities into a forward-looking real estate company, shaping sustainable ecosystems that support the way people live, work, and thrive. The company has long set the benchmark for quality, innovation and sustainability, delivering residential, integrated and high-rise developments across its 28 townships and developments throughout Malaysia.

Its core business is anchored in two segments: Property Development, which remains a market leader in township and integrated developments, and Investment & Asset Management, focused on driving long-term value creation through strategic asset ownership and management.

In line with its SHIFT32 strategy, Sime Darby Property has accelerated its transition from a pure-play property developer to a diversified real estate company, with a growing focus on recurring income streams. The company continues to lead the industrial and logistics segment through key developments such as Elmina Business Park, Bandar Bukit Raja, and Hamilton Nilai City, and is the first public-listed property developer in Malaysia to establish development funds in this sector.

As A Force For Good, the company has pledged to achieve Net Zero carbon emissions by 2050, referencing the Science Based Targets initiative (SBTi) to limit global temperature rise to 1.5°C. A strong advocate of ESG, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with an MSCI ESG Rating of BBB, is assessed by the CDP (Carbon Disclosure Project), and is included in both the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Shariah Index, affirming its commitment to strong ESG practices. Through its philanthropic arm, Yayasan Sime Darby, the company continues to deliver meaningful and lasting social impacts across the communities it serves.

Sime Darby Property has received numerous accolades, including being recognised as Malaysia’s number one property developer at The Edge Malaysia’s Top Property Developers Awards in 2024 and 2025. Other notable achievements include top honours at The Edge Malaysia Best Managed & Sustainable Property Awards 2025, wins at the FIABCI World Prix d'Excellence Awards, StarProperty Awards, Malaysia Developer Awards, Putra Brand Awards, PropertyGuru Asia Awards Malaysia, as well as its inclusion in the Fortune Southeast Asia 500 list for 2026 for the third consecutive year, reflecting its continued leadership in the industry.

For more information, log on to www.simedarbyproperty.com
Media Contact:Hannah Rafee | +6017-878 8090 | hannah.rafee@simedarbyproperty.com
Hanie Nasir | +6019-725 7015 | hanie.afieqah@simedarbyproperty.com
For General Enquiries, please e-mail: group.communications@simedarbyproperty.com

Download: 
English | Malay