CapitaLand Acquires RMB 3.7 Billion Data Center Campus in China | New

CapitaLand acquired its first hyperscale data center campus in China for 3.66 billion RMB (467 million euros), paving the way for one of the largest data center markets in the world.

CapitaLand purchased the Data Center Campus in Minhang District, a data center based in Shanghai, from AVIC Trust and an independent third-party vendor.

The asset comprises four buildings with a gross area of ​​up to 75,000 m² and up to 55 MW of data capacity.

Puah Tze Shyang, CEO of CapitaLand China, Investment and Portfolio Management, said CapitaLand’s entry into the data center market in China would further diversify the group’s portfolio across asset classes and strengthen its operational capabilities. .

Puah said CapitaLand may also seek opportunities to take strategic positions in data center operating platforms to accelerate its growth in a key market like China.

He Jihong, CEO, Data Center and Director of Corporate Strategy of CapitaLand Group, said, “5G, Artificial Intelligence and Big Data are driving the growth of the digital economy and creating high demand for centers. of data.

“Data centers are a growing asset class in the new economy and represent a global investment opportunity and a key strategic focus for CapitaLand. “

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