Khazanah’s Arm to Tap Vast Landbank to Power Data Centers

Malaysian sovereign wealth fund Khazanah Nasional Bhd.’s infrastructure arm UEM Group Bhd. plans to use its vast land holdings to supply clean energy and industrial land to accommodate power-hungry data centers in the southern state of Johor, said Managing Director Amran Hafiz Affifudin.

Johor, where a new special economic zone is being jointly developed with neighboring city-state Singapore, garnered 164.45 billion ringgit ($40 billion) in data center investments as of the second quarter. The state is expected to host 60% of the Malaysia’s data centers by 2030.