Sime Darby Property Bhd announced the acquisition of a strategic land parcel in Johor for RM350 million, aiming to strengthen its market share in the rapidly growing industrial and logistics sector. This move aligns with the company's strategy to focus on high-value, recurring income assets, boosting investor confidence in their long-term growth plan.
Sime Darby Property Bhd (5288) announced on Friday that it has signed an agreement to acquire approximately 500 acres of industrial land in the Senai area of Johor for a total consideration of RM350 million. The land is strategically located near major highways and Senai International Airport, making it ideal for developing high-end industrial parks and logistics hubs. Management stated that this transaction is expected to start contributing to revenue in FY2026, further cementing Sime Darby Property's position as a leading industrial property developer in Malaysia. Analysts welcomed the move, believing it will effectively enhance the company's recurring income base and mitigate risks associated with residential market volatility.
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