CapitaLand has plans to invest RMB3.66 billion ($571.54 million) to acquire its first hyperscale data center campus in China, the world’s second-largest data center market and the largest in Asia Pacific. CapitaLand is acquiring the data center campus from AVIC Trust, an investment arm of Shanghai-listed AVIC Capital, and from an unrelated third-party vendor.
The acquisition is via the purchase of 100 percent equity interest in two companies registered in China. Located in Minhang District, an established data center hub in Shanghai, the operating data center campus serves two of China’s largest telecommunications companies. The hyperscale data center campus comprises four buildings with a gross floor area of up to 75,000 square meters (807,293 square feet) and up to 55 megawatts of IT power capacity.
The acquisition is expected to be completed by third quarter 2021, subject to fulfilment of certain conditions precedent.
He Jihong, CEO, data center, and
