Malaysian property development firm Crescendo Corporation has sold land in Johor to a data center developer.
In a Bursa stock exchange announcement last week, Crescendo said its Paranoramic Industrial Development subsidiary sold land totaling 800,400 sq ft (74,360 sqm) in the Nusa Cemerlang Industrial Park to Data Cloud Innovation Sdn Bhd for RM120 million ($27.1m)
Panoramic has entered into a conditional sale and purchase agreement for five plots, which will be developed into a ‘carrier and cloud-neutral’ data center. Further details on the planned data center weren’t shared.
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, Microsoft, Digital Halo, and Yu Ao Sdn Bhd.
Data Cloud Innovation is a wholly-owned subsidiary of Magma Holding Company Limited in the UK. The company may be linked to Damac, based on data from Companies House, SEC filings, and the given names of directors.
UAE property firm Damac Group set up Edgnex (aka Damac Data Centres) in 2021. The company is developing facilities across the Middle East, Europe, and Asia. Damac first announced plans to expand into APAC in October 2023. It has announced developments in Jakarta, Indonesia; Cyberjaya, Malaysia; and Bangkok, Thailand.
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.
Other developers and operators in Johor include PDG, AirTrunk, Equinix, Keppel, ChinData's Bridge DC, and Yondr.
