03-06-2025
- Business
- New Straits Times
Negri Sembilan, a major growth frontier for SD Property
KUALA LUMPUR: Negri Sembilan has emerged as a key growth frontier for some property developers particularly Sime Darby Property Bhd (SD Property).
SD Property plays an instrumental role as one of the lead developers of the Malaysia Vision Valley 2.0 (MVV2.0) development corridor.
MVV2.0 is a catalytic development initiative aimed at unlocking the economic potential of Negri Sembilan.
As part of the National Physical Plan, MVV2.0 is intended to transform the southern corridor of the Klang Valley into a new growth frontier, leveraging strategic connectivity and proximity to Greater Kuala Lumpur.
SD Property contributes to the activation of this corridor by unlocking its sizeable landbank in Nilai and Labu.
Currently, SD Property holds about 4,000 acres of remaining land within MVV2.0, with an estimated remaining gross development value of RM16 billion.
TA Securities said SD Property's management sees Negri Sembilan as a fast-emerging hotspot, offering industrial land at significantly more competitive pricing, about half the cost of similar offerings in Selangor while enjoying superior accessibility.
This view is increasingly reflected in the group's sales composition, as Negri Sembilan accounted for 20 per cent of its total property sales in the quarter, up markedly from an average of just five per cent in FY24.
The strong demand for units at Hamilton Nilai City and the positive initial response to Vision Business Park (VBP) highlight the state's growing importance as a strategic industrial destination.
VBP, a 760-acre integrated industrial and commercial estate located within MVV2.0, is a key project for the property developer.
Launched in April, VBP boasts an estimated gross development value of RM2.4 billion.
It is situated near key infrastructure nodes including KLIA, KLIA2, the Nilai Inland Port and the North-South Expressway.
The project is designed to attract logistics operators, light manufacturers, and technology-driven businesses, with product offerings ranging from ready-built factories and industrial plots to R&D facilities and commercial shop offices.
