Ascendas India Trust to pump $216.6Mn for its first Indian data center

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Ascendas India Trust (a-iTrust), a subsidiary of CapitaLand, is set to invest INR 12 billion ($216.6 million) to build and operate the first phase of its data center complex in Navi Mumbais emerging data center hub, Airoli.

As reported by Ascendas Indias manager, their Ascendas Property Fund Trustee Pte. Ltd. greenfield site will be built into a large-scale data center campus with a maximum available built-up area of up to 575,000 square feet and 90 megawatts of power to host clients such as global technology giants, cloud service providers and domestic enterprises.

The data center site, acquired by a-iTrust, is located along the Thane-Belapur Road and can be accessible easily from Mumbai City using the Eastern Express Highway.

Navi Mumbai has evolved as a prominent data center location owing to its vicinity to sea cable landing sites, larger land parcels with clear title, adequate and scalable power, matured infrastructure, and smooth vendor-neutral network connectivity.

The data center campus will have an overall capacity of roughly 8,500 racks and operate at a power efficiency of approximately 1.4 when fully established. The data center will use ecological design ideas and sustainable development standards as part of CapitaLand's 2030 Sustainability Master Plan. Some of its features include solar panels, intelligent energy management systems, and waterless cooling systems.

The portfolio of Ascenda India, including pipeline projects, will progress by 1.2% from approximately 24.9 million square feet to 25.2 million square feet following this acquisition.

According to reports, the third-party vendor procurement of the site is projected to be finalized by the third quarter of 2021.  There will be two buildings on the data center campus. The first structure in phase one, which is expected to be completed in the second quarter of 2024, will have a built-up area of approximately 325,000 square feet.

Source Credit - https://sbr.com.sg/commercial-property/news/capitaland-subsidiary-invests-2166m-in-first-india-data-centre