BackUEM Sunrise Supports the Demand for Data Centre Through Disposal of Land in East Ledang, Iskandar Puteri Johor
KUALA LUMPUR, 11 June 2024 – UEM Sunrise Berhad ("UEM Sunrise" or the "Company") today, through its wholly-owned subsidiaries, UEM Land Berhad (UEML) and Nusajaya Rise Sdn. Bhd. ("NRSB"), have entered a conditional Sale and Purchase Agreement ("SPA") with a leading global data centre industry player for the disposal of two parcels of freehold land in Iskandar Puteri, Johor, for a cash consideration of approximately RM144.9 million. This initiative underscores the Company's commitment in supporting the burgeoning demand for data centres, whilst tactically positioning itself at the core of digital infrastructure growth through strategic land monetisation.
Located in East Ledang, Iskandar Puteri, the freehold lands in the Mukim of Pulai, Johor Bahru measuring approximately 11.7 hectares (28.9 acres) in total, will be developed for the construction of a data centre and is expected to feature cutting-edge technologies. Recognising the State's potential as Malaysia's primary data centre market, the proposed development aligns with the Johor Sustainable Development Plan 2030, aimed at bolstering the nation's digital economy in adoption of a robust digital infrastructure.
UEM Sunrise Chief Executive Officer Sufian Abdullah said, "Building on a prior Memorandum of Understanding ("MoU") signed in May with LOGOS Infrastructure Holdco Pte Ltd. to develop a data center campus in Gerbang Nusajaya, this strategic land divestment reaffirms our dedication to supporting Johor's data centre ecosystem, ultimately addressing the global demand for data solutions".
"Our southern landbanks being strategically positioned next to Singapore, shall benefit from the growing investments in Iskandar Puteri Johor, as well as spillover effects for demand on our residential and commercial spaces. As we re-evaluate our remaining landbank potential, this divestment and monetisation strategy sets the groundwork for substantial technological, economic and community advancements in Johor," he added.