Sime Darby Property was created through the integration of the property arms under the former Golden Hope Plantations Berhad, Kumpulan Guthrie Berhad, and Sime Darby Berhad. 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. It is one of the largest property developers in the country by revenue and gross development value (GDV) of current projects. 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 Projects Berhad and the company was renamed Sime UEP Properties Berhad. Sime UEP was used to develop former

oil palm ''Elaeis'' () is a genus of palms containing two species, called oil palms. They are used in commercial agriculture in the production of palm oil. The African oil palm '' Elaeis guineensis'' (the species name ''guineensis'' referring to its c ...

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 Putra Heights is a residential township in Subang Jaya, Selangor, Malaysia. It is located within the '' mukim'' of Petaling District. The township is visible by the tall Bukit Cermin in Putra Heights. Transportation Highways and expressways ...

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 Johor (; ), also spelled as Johore, is a state of Malaysia in the south of the Malay Peninsula. Johor has land borders with the Malaysian states of Pahang to the north and Malacca and Negeri Sembilan to the northwest. Johor shares maritime ...

and

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

. It also owns TPC Kuala Lumpur which has hosted the Malaysian Open,

CIMB Classic The CIMB Classic was a professional golf tournament in Kuala Lumpur, Malaysia, co-sanctioned by the Asian Tour and the PGA Tour. Played in the fall, the event debuted in 2010 and moved to the West Course of the TPC Kuala Lumpur in 2013; the first ...

and Sime Darby LPGA Malaysia tournaments. Sime Darby Property is also a 40-percent joint venturer in the

Battersea Power Station Battersea Power Station is a decommissioned Grade II* listed coal-fired power station, located on the south bank of the River Thames, in Nine Elms, Battersea, in the London Borough of Wandsworth. It was built by the London Power Company (LPC) ...

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.

Sime Darby demerger

In 2017, Sime Darby announced its intention to spin off Sime Darby Property into a separate

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

, without a definitive timeline. Analysts had previously speculated on the possibility of an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

of the division or a merger with S P Setia by their common ultimate shareholder, Permodalan Nasional Berhad (PNB). On 30 November 2017, Sime Darby Property was listed on Bursa Malaysia stock exchange. The company faltered in its debut on the Main Market of Bursa Malaysia by opening at RM1.30 at 9am against the issue price of RM1.50. The property development business is complemented by investment in 2 other business segments, namely, property investment and, leisure and hospitality. In May 2018, Sime Darby partnered with Japan’s Mitsui & Co Ltd and Mitsubishi Estate Co Ltd.

References

External links

*{{Official website , http://www.simedarbyproperty.com/ 2007 establishments in Malaysia Property companies of Malaysia Real estate companies established in 2007 Companies based in Kuala Lumpur Companies based in Petaling Jaya Companies listed on Bursa Malaysia