The Asian Development Bank is putting RM300 million into a sukuk wakalah that will help finance data centre development in Malaysia, a transaction ADB said is its first Islamic finance investment, according to Devdiscourse’s 28 July 2026 report relaying the bank’s announcement. Sime Darby Property NEV has a RM2.6 billion sukuk programme to finance hyperscale data centres and logistics assets, The Star reported on 28 July 2026.
ADB is investing RM300 million, about US$75.8 million, in a sukuk wakalah issued by Sime Darby Property NEV (Holdings) Sdn Bhd, funding a data centre development at Elmina Business Park, roughly 30 kilometres northwest of Kuala Lumpur. The bank said it is its first Islamic finance investment, per Devdiscourse’s 28 July 2026 report.
A RM2.6 Billion Programme With a Green Sukuk Component
Within the programme, a Green Sukuk component will part-finance the Elmina Business Park data centre development, with completion targeted for 2027 and backed by a 20-year lease with a multinational technology company, The Star reported on 28 July 2026. The same programme funds a build-to-suit distribution warehouse targeted for completion by end-2027, backed by a 15-year lease from a local hypermarket operator, according to the same report. KLSE Screener reported on 28 July 2026 that the programme finances hyperscale data centres and logistics facilities through Sime Darby Property Bhd’s new economy venture platform. See also our coverage of Islamic financing for property developers.
Arrangers, Guarantor, and Investors
Maybank Investment Bank Bhd is principal adviser, lead arranger, and facility agent on the programme; OCBC Al-Amin Bank Bhd is joint lead manager and security agent; the Credit Guarantee & Investment Facility (CGIF) is financial guarantor; and ADB is joint sustainability structuring adviser, according to The Star’s 28 July 2026 report. The same report named Datuk Sri Khairussaleh Ramli, President and Group CEO of Maybank; Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking at OCBC; Daniel Wiedmer, Director, Infrastructure Finance, in ADB’s Private Sector Operations Department; and Aarne Dimanlig, Chief Credit Risk Officer at CGIF.
The Star’s report didn’t carry the RM300 million figure, and KLSE Screener’s didn’t either. Devdiscourse on 28 July 2026 and W.Media on 29 July 2026 relayed that figure from ADB’s announcement. W.Media reported that Maybank Islamic Berhad and OCBC Al-Amin Bank Berhad have committed to invest in the sukuk, with the Credit Guarantee & Investment Facility providing a partial guarantee.
Datuk Seri Azmir Merican, Group Managing Director and CEO of Sime Darby Property, said: “The collaboration and support from Maybank, OCBC, and the Asian Development Bank reflect confidence in our long-term strategy,” per The Star’s 28 July 2026 report. In KLSE Screener’s 28 July 2026 report, Azmir said: “We are the first developer in Malaysia to bridge sukuk financing with an institutional real estate private equity structure.”
Market Context and ADB’s Targets
Nianshan Zhang, ADB’s Director General for Southeast Asia, said: “By combining scalable, energy-efficient data centers with green Islamic financing, this project supports Malaysia’s digital transformation,” per W.Media’s 29 July 2026 report. ADB said the transaction is Malaysia’s first sukuk for digital infrastructure, per Devdiscourse’s 28 July 2026 report.
Malaysia’s data centre market was valued at US$6.15 billion in 2025 and is projected to reach US$11.4 billion by 2031, a compound annual growth rate of 10.85 percent, W.Media reported on 29 July 2026. Devdiscourse’s 28 July 2026 report cited ADB context including a US$20 billion mobilisation target by 2035 for digital corridors and AI-ready economies and a US$6 billion programme to deepen regional capital markets. The Halal Times has also reported on Malaysia’s sukuk market.
The reports reviewed by The Halal Times don’t name the multinational technology company or the local hypermarket operator in the lease arrangements described by The Star. Completion of the Elmina Business Park data centre is targeted for 2027 and the distribution warehouse for end-2027, both per The Star’s 28 July 2026 report.
Frequently Asked Questions
How much is ADB investing in Sime Darby Property’s data centre sukuk?
RM300 million, about US$75.8 million, funding a data centre development at Elmina Business Park, according to Devdiscourse’s 28 July 2026 report on ADB’s announcement.
Which banks are investing in the sukuk alongside ADB?
Maybank Islamic Berhad and OCBC Al-Amin Bank Berhad have committed to invest, with the Credit Guarantee & Investment Facility providing a partial guarantee, per W.Media’s 29 July 2026 report.
Who arranged Sime Darby Property’s sukuk programme?
Maybank Investment Bank Bhd as principal adviser, lead arranger, and facility agent, with OCBC Al-Amin Bank Bhd as joint lead manager and security agent, according to The Star’s 28 July 2026 report.
Is this ADB’s first Islamic finance investment?
ADB said so in its own announcement, as reported by Devdiscourse on 28 July 2026.
How big is Malaysia’s data centre market?
US$6.15 billion in 2025, projected to reach US$11.4 billion by 2031, a 10.85 percent compound annual growth rate, according to W.Media’s 29 July 2026 report.
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