UEM Sunrise Bhd, a leading property developer in Malaysia, has today confirmed that it is in talks to sell its 74-acre land in Gerbang Nusajaya, Johor, which was originally slated to be developed into a 360MW data center campus jointly with Logos Infrastructure Holdco Pte Ltd. The cancelled deal was due to a change of ownership structure and direction at Logos, The Edge reported, quoting UEM Sunrise’s officer in charge and CFO Hafizuddin Sulaiman who had responded via email. The CFO has confirmed that UEM Sunrise no longer plans to build a data center at the site and is now in talks to sell the land instead as part of a strategy to monetise non-core assets.
ESR Group Ltd, the majority shareholder of Logos, had bought the remaining shares that it did not own, from its founders in July 2024. In May 2024, UEM Sunrise and Logos had signed an MOU to jointly develop the site into a data center campus, and collaborate in several areas, including end-to-end construction management, technical work, and assisting in government-related processes, such as licensing applications and securing state approvals.
UEM Sunrise owns a vast land bank in Iskandar Malaysia, Johor, and had in 2024 disposed a plot of land in East Ledang for US$ 34.2 million (RM144.9 million) to a global data centre operator. As at end-December 2024, the group’s remaining landbank stood at 5,197.9 acres, worth an estimated Gross Development Value of US$ 21.45 billion (RM90.9 billion).
