The arrival of the “second wave” of Malaysia’s data centre boom underscores a fundamental structural shift within the domestic construction and industrial real estate sectors. As public mega-infrastructure project roll-outs experience near-term deceleration, private-sector capital expenditure from global hyperscalers is effectively stepping in to bridge the gap. Driven by massive new master-planned technology campuses across Negeri Sembilan (Springhill), Selangor (Serendah), and Johor, this latest wave represents a highly concentrated pipeline of 17 to 21 new data centre structures. Backed by critical utility commitments from Tenaga Nasional Berhad, this private infrastructure surge secures a robust, multi-year backlog for major tier-1 contractors, firmly establishing Malaysia as Southeast Asia’s dominant powerhouse for AI-ready digital infrastructure
Second wave of data centre boom is here, says Kenanga, as infrastructure projects slow
