The Asian data center business is coming on strong. Three from Mingtiandi (Asian real estate intelligence):
Princeton Digital Group has delivered the 52-megawatt initial phase of its 150MW JH1 data centre campus, coming less than 14 months after it acquired the development site in Malaysia’s southern Johor state.
The AI-ready project will generate renewable energy through the installation of rooftop solar panels, Warburg Pincus-backed PDG said Wednesday in a release. In May the firm secured a $280 million green loan for JH1, hailing it as a major milestone towards minimising resource consumption and emissions by the region’s artificial intelligence infrastructure....
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Keppel DC REIT has agreed to buy a western Tokyo data centre at a deal value of JPY 23.4 billion ($140 million), taking advantage of low borrowing costs to secure the trust’s first asset in Japan.
The Singapore-listed REIT will hold a 98.47 percent effective interest in the property, known as Tokyo Data Centre 1, while sponsor Keppel Ltd will acquire the remaining 1.53 percent, the trust’s manager said Thursday in a release. The seller is an unrelated third party.
The precise location wasn’t disclosed for the freehold multi-storey property, which was completed in 2019 and offers a net lettable area of 190,166 square feet (17,667 square metres). It is master-leased on a triple-net basis to a Fortune Global 500 company and hyperscaler with a remaining lease term of roughly seven years, according to Temasek-backed Keppel...
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July 12Vnet Founder Gives Up Take-Private Bid as Blackstone-Backed Data Centre Firm Stays Listed
Vnet operates more than 50 data centres across China
Vnet Group founder Josh Chen has withdrawn his long-standing offer to take the Chinese data centre operator private, arguing that the NASDAQ-listed firm would be better served remaining publicly traded.
Beijing-based Vnet confirmed Chen’s decision on Thursday after a Bloomberg report broke the news earlier in the day. Chen, who serves as Vnet’s co-chair and interim CEO, had made a non-binding proposal in September 2022 to acquire all the outstanding ordinary shares of the company, whose backers include private equity giant Blackstone....
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Also Mingtiandi, July 11:
Warehouse Developer Panattoni Breaks Ground on First India Project Near Delhi
Panattoni Park NH71 is the first of several planned projects in India
Industrial developer Panattoni broke ground this week on a warehouse park in India’s national capital region as the US company’s first project in the country.
Situated on National Highway 352 within the Jhajjar district of Haryana, some 60 kilometres (37 miles) west of New Delhi, the Grade A park will offer 32,000 square metres (344,445 square feet) of space on a site measuring 66,000 square metres, Panattoni said in a release....
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Previous visits to Mingtiandi focused on China property woes:
2021 China Property: "Kaisa Confirms Default on Offshore Notes, Plans Restructuring of $11.8B in Debt"
2022 China's Real Estate Developer Crisis Has Not Gone Away
Mega-projects like Chengdu Sunac Cultural Tourism City Water and Snow World in Chengdu might have been ill-advised
