Latest news with #digitalInfrastructure
Independent Singapore
02-07-2025
- Business
- Independent Singapore
GIC back NTT data centre REIT in $1B IPO
SINGAPORE: Japanese telecom giant Nippon Telegraph and Telephone (NTT) has launched the bookbuilding process for a new data centre real estate investment trust (REIT) on the Singapore Exchange (SGX), aiming to raise up to US$864 million, including an overallotment option. The REIT, backed by Singapore's sovereign wealth fund GIC, is positioned to tap into accelerating global demand for digital infrastructure. According to a term sheet, the base offering is sized between US$772 million and US$812 million. An overallotment option of US$51.5 million could lift the final deal size to US$864 million. If the REIT achieves a 7.5% yield, the overallotment will be fully exercised, with NTT retaining a 20% stake. An overallotment option allows for the sale of more shares than initially planned. This is meant to meet high demand or stabilise prices. The REIT is marketed with an annualised distribution yield of 7% to 7.5% for the period from July 2025 to March 2026, and 7.29% to 7.8% for the following financial year, according to the preliminary prospectus filed on Jun 27. The initial portfolio comprises six data centres—located in Ashburn, Virginia; three in Sacramento, California; Vienna, Austria; and Singapore—with a total value of approximately 240.7 billion yen (US$1.573 billion). These facilities span 41,000 square meters and offer a total capacity of 80 megawatts, with occupancy rates ranging between 90% and 97%. NTT, which operates data centres across more than 20 countries, plans to retain a significant ownership stake post-listing and expand the REIT's portfolio in future phases. GIC, which manages an estimated US$847 billion in assets (according to GlobalSWF), has committed US$100.9 million to the offering, subscribing to 100.9 million units as a cornerstone investor. It marks GIC's first investment in a Singapore-listed REIT, reflecting growing confidence in the digital infrastructure sector. Other cornerstone investors include Hong Kong-based Viridian Asset Management, AM Squared, Pinpoint Asset Management, and the US-based Ghisallo Master Fund—signalling broad institutional interest from both regional and global markets. The IPO comes amid moves to boost its equity market. Recent years have seen privatisations outnumber new listings. This trend led the Monetary Authority of Singapore (MAS) to propose tax incentives and create a S$5 billion fund to improve liquidity and attract more issuers in February 2025. The financial outlook for NTT's REIT is positive. For the nine months ending in March 2026, it expects revenue of US$167.3 million, with net property income projected at US$75.9 million and distributable income at US$57.3 million. According to Singapore's REIT regulations, up to 90% of earnings will be distributed to unitholders. The share sale has drawn strong investor interest. Industry reports indicate that rising construction costs and market saturation could affect yields in the long run, but at the same time, they highlight strong fundamentals; there is growing demand for data centres, steady absorption of capacity, and declining vacancy rates worldwide. With the REIT to start trading in mid-July, NTT aims to strengthen its position in the global digital infrastructure market while reinforcing Singapore's role as a key hub for REITs and tech-driven investments.
Yahoo
02-07-2025
- Business
- Yahoo
Empyrion Digital celebrates grand opening of KR1 Gangnam Data Centre
SEOUL, South Korea and SINGAPORE, July 2, 2025 /PRNewswire/ -- Empyrion Digital, a leading digital infrastructure platform in Asia, today announced the grand opening of its KR1 Gangnam Data Centre (KR1 GDC), a 29.4MW IT load facility located in the heart of Gangnam, Seoul's technology and innovation district. The ceremony was attended by H.E. Eric Teo, Ambassador of the Republic of Singapore to the Republic of Korea; Youngjun Jung, Vice Mayor of Seocho-gu Office, and other key business leaders in South Korea. The KR1 GDC launch marks a significant milestone for Empyrion as its second operational asset in Asia, following the successful acquisition of SG1 Dodid in Singapore in 2021. Situated at 224 Yangjae-dong in Seocho-gu, KR1 GDC spans 30,714 square metres and marks the first new data centre development in Seoul's Gangnam district in over 10 years. Strategically located near leading technology firms and Fortune 500 headquarters, the facility provides diverse connectivity and is purpose-built to support hyperscaler and enterprise customers requiring low latency and high-density infrastructure for AI and cloud computing needs. Leveraging advanced cooling technologies and green by design principles, KR1 GDC is designed to maximise energy and water usage efficiencies and contribute to environmental sustainability. "KR1 GDC is launched at a time when demand for high-quality, power-secured facilities in the Seoul metropolitan area far exceeds supply," said Mark Fong, CEO of Empyrion Digital. "With South Korea advancing its goal to become a global AI powerhouse, KR1 GDC reflects Empyrion Digital's foresight and execution in addressing this infrastructure gap. We are confident that KR1 GDC will serve the needs of South Korea and deliver long-term value for our customers and partners across Asia." H.E. Eric Teo, Ambassador of the Republic of Singapore to the Republic of Korea said: "The launch of the GDC comes at a time when Korea is growing its ambitions in AI and digital technology under the new Lee Jae-myung government. The GDC is well positioned to support the growing infrastructure demands of Korea's AI economy and contribute to building a robust and resilience data centre ecosystem. The GDC opening represents a celebration of shared vision, close collaboration and the strengthening digital partnership between our two like-minded countries". H.E. Hong Jin-wook, Ambassador of the Republic of Korea to Singapore said: "I would like to extend my heartfelt congratulations to Seraya Partners and Empyrion Digital on the opening of the Gangnam Data Centre today. Data centres are critical infrastructure that directly support the business activities and the everyday lives of our citizens. I would also like to congratulate the Seocho-gu office and its residents on attracting this important facility." James Chern, Managing Partner and Chief Investment Officer of Seraya Partners said: "The opening of Empyrion Digital's Gangnam Data Centre is a strong affirmation of Seraya's strategy to build and scale next-generation digital infrastructure across Asia. The unwavering support of our global investors has been instrumental in bringing this project to life. Their continued confidence reinforces our belief that platforms built for AI, sustainability, and regional connectivity will define the future of infrastructure investing." About Empyrion Digital Empyrion Digital is a next-generation digital infrastructure platform committed to sustainability and the highest standards of responsible operating performance. Green by design, we develop and operate robust, scalable and carrier-neutral data centres for hyperscale and enterprise customers across Asia. Headquartered in Singapore, Empyrion Digital is a portfolio company of Seraya Partners, a leading Asia infrastructure fund with USD 1.8 billion of assets under management. For more information, visit View original content to download multimedia: SOURCE Empyrion Digital
Gulf Business
02-07-2025
- Business
- Gulf Business
Abu Dhabi, Dubai among top emerging data centre markets in 2025, reveals report
Image: Getty Images/ For illustrative purposes Abu Dhabi and Dubai have been ranked as the world's top two emerging data center markets, according to Cushman & Wakefield's 2025 Global Data Center Market Comparison report, reflecting the UAE's growing role in global digital infrastructure investment. Among 97 markets surveyed, Abu Dhabi and Dubai placed first and second respectively, assessed across 20 key variables including power availability, fiber connectivity, development pipeline, and land pricing. 'There's a clear link between long-term infrastructure planning and current market performance,' said Edward Macura, country head at Cushman & Wakefield Core. 'Abu Dhabi and Dubai have created the conditions for scale, and global operators are responding.' UAE's data centre capacity to rise The UAE currently hosts over 250MW of live data centre capacity, with an additional 500MW in active development. The Stargate UAE project in Abu Dhabi — backed by OpenAI, Oracle, and Nvidia — is expected to deliver 5GW at full capacity. In Dubai, telecom operator du and Microsoft are advancing a $540m hyperscale facility. Read: Cloud service providers increasing operations in the UAE Cloud service providers including AWS, Alibaba, and Equinix are expanding operations in both emirates. The UAE data centre market was valued at $1.26bn in 2024 and is forecast to grow to $3.33bn by 2030. Backing this growth are major capital commitments: Abu Dhabi's ADQ and Energy Capital Partners are investing $25 billion into power infrastructure, while MGX, Microsoft, and BlackRock are supporting a $30bn AI-driven initiative. Macura noted that institutional capital is responding to the market's track record. 'Developers are meeting deadlines, occupiers are pre-leasing, and supporting infrastructure is being delivered in parallel,' he said. The Stargate UAE campus is expected to deliver its first 1GW by 2026. Khazna's 100MW AI facility in Ajman is also on track for phased delivery within 24 months. As demand for AI and cloud infrastructure intensifies, the UAE is positioning itself as a resilient and scalable digital hub. 'The level of interest we're seeing isn't temporary,' Macura added. 'The UAE has reached the point where it offers both operational reliability and future capacity — those are the markets that will outperform over time.'
Zawya
17-06-2025
- Business
- Zawya
Johannesburg builds on its top position as Africa's premier data centre market
Johannesburg officially confirmed its position as Africa's digital infrastructure powerhouse. Calvin Crick, director of Cushman & Wakefield | BROLL Transaction Services, reports the newly released Cushman & Wakefield 2025 Global Data Centre Market Comparison ranks Johannesburg as the continent's leading data centre market and places it in the top 10 emerging markets globally. Calvin Crick Angus Murray 'This ranking signals the city's pivotal importance to Africa's role in the global digital ecosystem,' comments Crick. The report, which benchmarks 97 global markets across 20 strategic criteria from power availability and land pricing to fibre connectivity and regulatory stability, highlights Johannesburg's maturity and momentum. Reinforcing Africa's growing relevance in the global data centre ecosystem, Nairobi and Lagos also earn distinction as rising contenders with notable strengths in renewable energy integration and climate resilience. An evolving market As global hyperscalers re-evaluate long-term strategies amid evolving AI trends, Crick notes a more measured approach to expansion. 'While cloud data centres have a well-defined tried-and-tested model and demand remains strong, there's a growing realisation that AI data centres differ significantly in design, demanding far more power and cooling capacity. The ideal scale of these facilities is still being bedded down, and with development timelines stretching up to four years, global players are being more cautious in their investments,' says Crick. Africa's role in the global digital ecosystem In the broader context, Africa is still considered a nascent region for large-scale data centre growth, but its relevance is increasing. While South Africa clearly leads the continent, Cushman & Wakefield | BROLL is also seeing increased activity in other regional hubs. Nairobi offers a sustainability edge and Lagos presents latent potential. Favourable macro trends for these African cities include power pipeline diversification, regulatory openness and land availability with lower acquisition costs compared to North America and Europe. None yet challenge the dominant markets but their presence in the report indicates that Africa is steadily securing its role in the next wave of global digital infrastructure expansion and signals rising investor interest. South Africa's data centre market is future-focused Locally, existing colocation providers, which rent space within their data centres for other companies to house servers and computing equipment, have moved swiftly to expand capacity, particularly in Johannesburg's East Rand and Samrand nodes. These areas have become preferred destinations due to their access to power and absence of key locational risks specific to data centres. Angus Murray, of Cushman & Wakefield | BROLL Transaction Services, explains, ' The colocation market in South Africa has grown steadily, with ample space now available for hyperscalers to lease without the need for greenfield development. We expect it to take time for that capacity to be fully absorbed.' 'Interestingly, in Cape Town, which is South Africa's second significant data centre market, we're seeing land banking activity, which is a sign that shrewd data centre players are positioning for the future and securing sector-specific prime locations for tomorrow's demand and dynamics now,' Murray adds. Site selection is about power as much as property Both experts stress that data centre site selection is governed by power availability rather than location alone. Crick elaborates, ' It's not about finding premium land, it's about finding power-connected land that meets a matrix of data centre-specific criteria, which includes low flood risk, minimal surrounding residential exposure, multiple access points, fibre connectivity and proximity to major electrical substations. Power delivery costs often exceed land values. The greater the distance from a major substation, the greater the costs. So, it's important to understand all the nuances when establishing the viability of each potential data centre site. ' Johannesburg: dominating digital infrastructure in Africa Johannesburg stands out as Africa's most mature data centre hub. It is the only African city included in the report's emerging markets rankings top 10, coming in at number 10 globally, which underscores its growing relevance as a digital infrastructure gateway into sub-Saharan Africa. Key indicators driving Johannesburg's inclusion include its preleased capacity, with over 50% of its pipeline already committed, suggesting healthy demand from hyperscalers and regional enterprises. It is also one of the few African markets with ≥20MW of power availability in a single facility, placing it on par with major international markets such as Warsaw and Chicago. Plus, Johannesburg has a track record of resilience demonstrating strategic planning, ranking among cities that have successfully built data centres outside high-risk flood zones. Nairobi: emerging with sustainable promise Nairobi, although it doesn't rank in the top 10 emerging markets, earns specific recognition under renewable energy criteria. It is one of the few global markets with renewable power exceeding 70% of the total fuel mix, which is a strong advantage as sustainability becomes a major driver of data centre strategy. This renewable advantage aligns Nairobi with markets like Reykjavik and Oslo, reinforcing its potential as a green data centre destination, especially for African and global tech firms prioritising ESG benchmarks. Lagos: a market of strategic interest Although Lagos remains on the periphery of the global rankings, like Nairobi it features notably for its low environmental risk, being outside major seismic zones but flood risks do need to be investigated. Lagos offers relatively affordable power compared to European and APAC hubs, although power reliability is a critical issue with generators still generally being essential for operations. However, it has yet to achieve the large-scale infrastructure and preleasing momentum seen in Johannesburg, suggesting its market readiness is still being established. Site certainty in Africa's data-driven development ' While South Africa's in pole position for data centres, Nigeria and Kenya are clearly the next biggest data centre growth markets on the continent, ' says Murray. Crick adds, ' Whether in Johannesburg, Nairobi, Lagos or elsewhere in Africa, navigating site complexity, securing viable land and making confident, future-ready investment decisions are all possible with deep regional and sector expertise. Our expanding portfolio of identified power-viable sites is driving long-term value across the continent's most dynamic markets. '
Gulf Business
17-06-2025
- Business
- Gulf Business
EDGNEX by DAMAC to build $2.3bn AI data centre in Jakarta
Image: Getty Images/ For illustrative purposes EDGNEX Data Centers by DAMAC, a global digital infrastructure company backed by Dubai-headquartered DAMAC Group, has announced the development of a next-generation, AI-powered data center in Jakarta, Indonesia – its second facility in the country and one of Southeast Asia's largest AI-dedicated infrastructure projects. The new facility will have a projected capacity of 144 megawatts (MW) and represents a total investment of $2.3bn. Land acquisition was completed in March 2025, and the site has now entered early construction phases. Phase one of the project is expected to be ready for service by December 2026. Designed to support high-density AI workloads, the Jakarta data centre aims to address Indonesia's digital infrastructure gaps, including limited hyperscale readiness and rising latency challenges. EDGNEX projects: Second in Indonesia 'This is our second project in Indonesia, and this development reinforces our commitment to bridging the digital divide in fast-growing markets across Southeast Asia,' said Hussain Sajwani, founder of DAMAC Group. 'We are proud to build what will become one of Southeast Asia's most advanced, sustainable data centers to power the next wave of innovation and digital growth. The scale of AI workloads demands a new class of infrastructure.' The facility will target a power usage effectiveness (PUE) of 1.32, reflecting EDGNEX's commitment to sustainability and energy efficiency. The new development expands EDGNEX's presence across Southeast Asia, including ongoing projects in Thailand and Malaysia. This second Jakarta data centre follows the company's 2024 announcement of its first Indonesian project — a 19.2 MW facility in the MT Haryono area, one of Jakarta's most interconnected data centre clusters. That site is scheduled to go live in Q3 2026, catering to growing demand from cloud service providers, edge computing platforms, and AI solutions. To date, The company's regional target is to reach over 300MW of operational capacity by 2026. Read:
