Ascendas invests $162m on building first Indian data centre

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Ascendas Property Fund Trustee, the trustee-manager of Ascendas India Trust (a-iTrust) is investing over $162 million to develop and operate phase one of a new data centre campus in Airoli, Navi Mumbai.

It is a-iTrust's first data centre facility in India. The trust is owned by Singapore-headquartered CapitaLand.

The acquisition of the site from third-party vendors is expected to be completed by the third quarter of 2021. Consisting of two buildings, the first one will be 325,000 sq ft and is scheduled to be finished in the second quarter of 2024.

The 6.6-acre greenfield site will offer a total of 575,000 sq ft and 90MW of IT power when the campus is fully built. It will have a PUE of 1.4.

“Our entry into the data centre sector in India will diversify a-iTrust’s portfolio into an attractive and highly scalable asset class,” said Sanjeev Dasgupta, chief executive officer of Ascendas Property Fund Trustee.

The trust already owns IT and logistics parks in Bangalore, Chennai, Hyderabad, Pune and Mumbai.

He Jihong, CEO of data centres and chief corporate strategy officer of CapitaLand Group, added: “India’s rising data consumption and demand for quality solutions present a good opportunity for CapitaLand’s entry into the country’s burgeoning data centre market.

“We are stepping up our growth in data centres and accelerating expansion of the group’s portfolio into new economy assets.”

This April, CapitaLand acquired its first data centre facilities in China, acquiring a campus in Shanghai for around $564 million.