Mapletree Industrial Trust enters Japanese market with new data center acquisition
Mapletree Industrial Trust (MIT) has acquired a newly built data center in Osaka, Japan, for JPY52 billion ($377 million). Under the conditional trust beneficial interest purchase and share agreement with Suma Tokutei Mokuteki Kaisha, an unrelated third-party vendor, MIT will acquire a 98.47 percent in the property.
The Japanese data center market is primarily concentrated in Greater Tokyo and Greater Osaka, with take-up rates forecasting to grow at a compound annual growth rate of 13 percent and 14 percent from 2023 to 2027, respectively, according to MIT. This growth is underpinned by demand drivers such as cloud computing, online gaming, video streaming and digitalization. In addition, Japanese data centers are expected to benefit from nascent trends with growth potential, such as the deployment and adoption of 5G services, the Internet of Things and artificial intelligence.
“The proposed acquisition offers a strategic opportunity to diversify our data center pres