GIC plans for $704m investment to data center in Seoul

Singapore sovereign wealth fund GIC will team with domestic institutional investors and other partners to build a $704 million data center located in Goyang City, Gyeonggi Province, Seoul, reported Business Korea.

The project aims to be completed in about three years, with a target year of 2026.

GIC’s real estate portfolio increased to 10 percent by the end of March last year, representing a 2 percentage point surge from the previous year.

Police Mutual Aid Association will be providing $23.4 million.