Capitaland acquires its first hyperscale data centre in China
The firm is investing $757.7m for the acquisition.
Capitaland has acquired its first hyperscale data centre in China, for $757.7m (RMB3.66b).
The data centre is located in Minhang District, an established data centre hub in Shanghai.
The operating data centre campus serves two of China’s largest telecommunications companies. The hyperscale data centre campus comprises four buildings with a gross floor area of up to 75,000 square metres, and up to 55 megawatts of IT power capacity.
CapitaLand is acquiring the data centre campus from AVIC Trust, an investment arm of Shanghai-listed AVIC Capital, and from an unrelated third-party vendor. The acquisition is expected to be completed by 3Q 2021, subject to fulfilment of certain conditions precedent.
“Data centres are a growing new economy asset class and represent a global investment opportunity and a key strategic business focus for CapitaLand. We have built core competencies in data centre design, development and operations, and we will look to deploy our expertise to key markets as we grow our data centre portfolio globally,” chief executive officer of Data Centre, and chief corporate strategy officer of CapitaLand Group He Jihong said.