Zul Rafique & Partners has advised a wholly owned subsidiary of Malaysian property developer Mah Sing Group on the proposed sale of around 32 hectares of freehold land in Southville City, Selangor state, for a data centre project. The land was sold to WG Malaysia X, a wholly owned subsidiary of Dayone Data Hub II, which is owned by Singapore-based data centre developer and operator DayOne, for MYR617.8 million (USD153.4 million).
The firm advised on issues relating to the development and delivery of the land, regulatory and planning approvals, and the detailed infrastructure, utilities and connectivity frameworks needed for the proposed development. Partner May Ling Leong and senior legal associate Ju Ling Sia led the team.
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Regulatory and compliance aspects of the deal included advising on the condition precedents to be fulfilled by the parties, such as the issuance of a new title for the subject land with updated title conditions, relevant PLANMalaysia approval and Data Centre Task Force approval, planning permission and the requisite State Authority approval under the National Land Code (Revised 2020). Leong noted that the team had to manage implementation milestones and transaction-specific arrangements.
Leong said it was essential to ensure that the parties complied with all applicable laws and regulations while keeping the transaction timetable in mind. Sia added that structuring the land disposal alongside the regulatory, infrastructure and utility requirements of a large-scale data centre development was a key highlight of the deal.
The transaction required careful co-ordination and timing of the relevant approval and development steps to fit within the overall transaction schedule requirements. Sia said that the team had to balance the commercial objectives of the parties with the need to comply with applicable laws and regulations.
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Leong and Sia’s team worked closely with the parties to ensure that the transaction was completed smoothly and efficiently. Their expertise in regulatory and compliance matters was essential in ensuring that the deal was completed on time and in accordance with all applicable laws and regulations.
They ensured that all parties complied with laws and regulations.
