Sime Darby Property

Sime Darby Property Berhad
Company typePublicly traded government-linked company (GLC) & state-owned enterprise (SOE)
MYX: 5288
Industry
Founded1973; 51 years ago (1973)
Headquarters
Ara Damansara, Petaling Jaya
,
Malaysia
Key people
  • Dato’ Rizal Rickman Ramli (Chairman)
  • Dato’ Seri Azmir Merican (Group Managing Director)
RevenueIncrease RM03,436.9 million (2023)[1]
Increase RM0606.4 million (2023)[1]
Total assetsIncrease RM15,928.7 million (2023)[1]
Websitewww.simedarbyproperty.com

Sime Darby Property Berhad 197301002148 (15631-P) is a Malaysian real estate developer with operations in Malaysia and the United Kingdom. Incorporated in 1973,  as Sime Darby Property Sdn. Bhd., the Group [2] was created through the integration of the property arms under the former Golden Hope Plantations Berhad, Kumpulan Guthrie Berhad, and Sime Darby Berhad. The property arm of Sime Darby traces back to United Estates Projects Berhad, a property development company established in 1964.[3] In 1985, Sime Darby purchased a large stake in United Estates Projects Berhad and the company was renamed Sime UEP Properties Berhad.[4] Sime UEP was used to develop former oil palm plantation lands belonging to Sime Darby.[5]

Apart from its 20,763 acres of landbank spanning from Selangor to Johor, Sime Darby Property also has assets and operations across the Asia Pacific region and the United Kingdom.[6] It is one of the largest property developers in the country by revenue and gross development value (GDV) of current projects.[7][8] The division was formed through the integration of the property arms of Golden Hope, Guthrie and Sime Darby during the 2007 Synergy Drive merger.[9]

Sime UEP was the developer of Subang Jaya (which commenced in 1974), which has become one of the most populated townships in the Klang Valley.[10] This was followed by the developments of USJ and Putra Heights in the surrounding areas by Sime UEP.[11] Bukit Jelutong was developed by Guthrie beginning in 1994 on its former plantation lands.[12] The 299-hectare Ara Damansara development by Sime UEP was launched in 2000.[13]

Aside from its developments in the Klang Valley, Sime Darby Property has residential projects in Negeri Sembilan, Johor and Singapore.[14] It also owns TPC Kuala Lumpur which has hosted the Malaysian Open, CIMB Classic and Sime Darby LPGA Malaysia tournaments.[15] Sime Darby Property is also a 40-percent joint venturer in the Battersea Power Station redevelopment project.[8]

As of September 2014, the company has a land bank of 19,000 acres (7,689 hectares), not including plantation land owned by Sime Darby Plantations which could be converted for development in the future.[8]

As of December 2022, Sime Darby Property has built over 100,000 homes and properties across 25 townships and developments. Its portfolio includes residential, commercial, industrial, and logistics properties.[16]

Sime Darby Property is also involved in many other real estate segments, including Investment & Asset Management, with retail, commercial, and industrial logistics assets located within Malaysia, Singapore, and the United Kingdom. Sime Darby Property was also part of an international consortium that redeveloped the Battersea Power Station in Central London. The Group currently operates 5.4 million sq. ft. of net lettable area across commercial, retail, hospitality, education, and industrial segments.

Sime Darby Property’s Leisure segment manages the Kuala Lumpur Golf & Country Club (KLGCC).

  1. ^ a b c Integrated Report 2023 (PDF)
  2. ^ "Sime Darby Property (Kl East) Sdn. Bhd. Company Profile - Malaysia | Financials & Key Executives | EMIS". www.emis.com. Retrieved 2024-02-07.
  3. ^ "Company Overview of Sime UEP Properties Bhd". Bloomberg Business. Retrieved 2015-09-01.
  4. ^ King, Ross (2008), Kuala Lumpur and Putrajaya: Negotiating Urban Space in Malaysia, Singapore: NUS Press, p. 117, ISBN 978-87-7694-046-1
  5. ^ "Sime Darby Berhad - Company Profile, Information, Business Description, History, Background Information on Sime Darby Berhad". Reference for Business. Retrieved 2015-09-01.
  6. ^ "Sime Darby Property".
  7. ^ Sidhu, Jagdev Singh (2014-04-26). "PNB may merge its big property firms". The Star. Retrieved 2015-09-01.
  8. ^ a b c "Sime Property's GDV could exceed RM100 billion". The Malaysian Insider. 2014-09-17. Retrieved 2015-09-01.
  9. ^ "Synergy Drive Set to Become Bursa Malaysia's Largest Listed Company" (press release). Synergy Drive Berhad. 2007-10-27. Retrieved 2015-09-01.
  10. ^ "A model housing estate". New Straits Times. 1989-03-08. Retrieved 2015-09-01.
  11. ^ "Sime Darby plan 31 new property launches". New Straits Times. 2007-03-13.
  12. ^ Annual Report 2005 (PDF), Kumpulan Guthrie Berhad, 2005-12-31, retrieved 2015-09-01
  13. ^ Annual Report 2023, Sime Darby Property Berhad, 2024-06-30, retrieved 2024-06-30
  14. ^ "Residential". Sime Darby Property Berhad. Retrieved 2015-09-01.
  15. ^ "KLGCC Wins Pargolf Awards For The Second Year Running" (press release). Sime Darby Property Berhad. 2012-03-29. Retrieved 2015-09-01.
  16. ^ "About us". www.simedarbyproperty.com. Retrieved 2024-02-07.