In what is one of the largest data center transactions in Southeast Asia, Keppel is selling a Keppel-led data center joint venture to Keppel DC REIT for a total gross divestment price of S$1.38 billion ($1 billion).
The Keppel JV, a 60-40 joint venture between Keppel’s Connectivity Division and Cuscaden Peak Investments, owns the Keppel Data Centre Campus at Genting Lane in Singapore, Asia’s top data center hub. The campus consists of two AI-ready hyperscale data centers — Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8). The joint venture also owns a vacant land plot earmarked for a third data center, Keppel DC Singapore 9, which has been carved out from the proposed transaction.
The construction of KDC SGP 7 and KDC SGP 8 was funded by the joint venture and Keppel’s private fund, Alpha Data Centre Fund, with its parallel fund, as well as co-investors. KDC SGP 7 and KDC SGP 8 are 100 percent contracted to global hyperscalers from across
