Founded 2007 | Parent organization Sime Darby | |
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Type Private limited company Industry Property development
Property investment
Hospitality Key people Abdul Ghani Othman (Chairman)
Jauhari Hamidi (Managing Director) Revenue RM03,074 million (2016) Operating income Total assets RM12,228 million (2016) Headquarters Ara Damansara, Petaling Jaya Subsidiaries Sime Darby Property (Hong Kong) Limited Profiles | ||
The edge top property developers awards 2009 sime darby property berhad
Sime Darby Property Berhad is the property division of Malaysian conglomerate Sime Darby. It is one of the largest property developers in the country by revenue and gross development value (GDV) of current projects.
Contents
- The edge top property developers awards 2009 sime darby property berhad
- Pipda 2015 sime darby property top 10 developers
- References
The division was formed through the integration of the property arms of Golden Hope, Guthrie and Sime Darby during the 2007 Synergy Drive merger. The property arm of Sime Darby traces back to United Estates Projects Berhad, a property development company established in 1964. In 1985, Sime Darby purchased a large stake in United Estates and the company was renamed Sime UEP Properties Berhad. Sime UEP was used to develop former oil palm plantation lands belonging to Sime Darby.
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. This was followed by the developments of USJ and Putra Heights in the surrounding areas by Sime UEP. Bukit Jelutong was developed by Guthrie beginning in 1994 on its former plantation lands. The 299-hectare Ara Damansara development by Sime UEP was launched in 2000.
Aside from its developments in the Klang Valley, Sime Darby Property has residential projects in Negeri Sembilan, Johor and Singapore. It also owns TPC Kuala Lumpur which has hosted the Malaysian Open, CIMB Classic and Sime Darby LPGA Malaysia tournaments. Sime Darby Property is also a 40-percent joint venturer in the Battersea Power Station redevelopment project.
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.
In 2017, Sime Darby announced its intention to spin off Sime Darby Property into a separate public company, without a definitive timeline. Analysts had previously speculated on the possibility of an initial public offering of the division or a merger with SP Setia by their common ultimate shareholder, Permodalan Nasional Berhad (PNB).