Malaysian property group Paragon Globe has agreed to sell a 65-acre land parcel in Iskandar Puteri, Johor, to DayOne Data Centers.

DayOne bought the parcel for RM398 million ($96m) under a conditional sale and purchase agreement posted on Malaysia’s bourse, Bursa Malaysia.

The two parcels are located on both sides of Jalan Gelang Path in the township of Gerbang Nusajaya, a mixed-development hub containing Nusajaya Tech Park, which is home to one of Malaysia’s data center clusters, and other residential developments.

The completion of the sale is conditional upon several conditions, including planning approval from the local authorities.

Details about the proposed data center to be built on the parcel were not provided.

APAC-focused DayOne was spun out of Chinese data center firm GDS back in 2025. The company's portfolio currently comprises more than 500MW of data center capacity in service and under construction, and more than 500MW held for future development across sites in Hong Kong, Singapore, Malaysia (Johor), Indonesia (Batam), and Japan (Tokyo).

The company recently broke ground on a site in Thailand and another in Singapore. In August, it made its first foray into markets beyond Asia, announcing a campus in Lahti, Finland.

It was reported early this year that the company was targeting a $20 billion valuation for its planned IPO, and recent reports said that UAE investment firm MGX was looking to purchase the firm.

DayOne announced in early June that it had secured $4.5 billion in equity financing, which would be used to fund its data center buildout.