Ascendas-Singbridge Group has entered into a conditional agreement to acquire 9 Tai Seng Drive, a six-story data center strategically located within Singapore’s core data center hub and largest network ecosystem in Tai Seng Industrial Estate.
The proposed acquisition is aligned with the firm’s initiative to expand its data center portfolio.
Ascendas-Singbridge Group intends to undertake asset enhancement initiatives to develop the approximately 218,905 square feet into a state-of-the-art data center to service both current and future customers. Following the enhancement works, the property will become an attractive host location for customers seeking quality colocation services for their IT equipment and connect them to a variety of telecommunications and network service providers. The enhancement works are expected to be completed in early 2020.
“As a regional hub with excellent connectivity, Singapore continues to see healthy demand for data centers; and we will be looking at opportunities to ride on this trend,” said Kelvin Fong, managing director of Ascendas-Singbridge Group’s data center business. “Leveraging the Group’s extensive development and operating capabilities across Asia, we believe we are well-positioned to create value for various enterprises who need customized and quality data center services, including global Internet and cloud operators.”
