Malaysia real estate firm Crescendo Corporation has sold more land in Johor for a planned data center.
In a Bursa stock exchange announcement this week, Crescendo said its wholly-owned subsidiary, Crescendo Development Sdn. Bhd. this month entered into a sale and purchase agreement to sell land to APAC data center firm Digital Edge.
Crescendo has sold 49.7 acres in the Bandar Cemerlang Industrial Park (BCIP) in Kota Tinggi for RM346 million ($87 million). The deal is set to close in the second half of 2027.
Full details haven’t been shared, but the site is set to be developed into a data center campus. Digital Edge is yet to comment on the land purchase.
New York-based private equity firm Stonepeak Infrastructure Partners formed Digital Edge in August 2020. The company has around 25 data centers in operation and under construction, and more than 1.1GW of secured IT power across Japan, Korea, India, Malaysia, Indonesia, and the Philippines.
Founded in 1989, Crescendo is a publicly listed Malaysian property development firm. The company has previously sold land in Johor for data center development to STT GDC, Damac’s Edgnex, Digital Halo, Microsoft, Megaspeed, and Yu Ao Sdn Bhd.
Located in Malaysia’s south, Johor is just across the border from Singapore. Though Singapore is starting to ease restrictions around its ongoing moratorium on new data center developments, Johor has grown a sizeable data center market of its own as developments overspill from the city-state.
Data center developers and operators in Johor include PDG, AirTrunk, Equinix, Keppel, Bridge DC, Vantage, and others.