Ascendas Property Fund Trustee Pte. Ltd., the Trustee-Manager of Ascendas India Trust (a-iTrust) said a-iTrust would invest ₹1,200 crore (S$216.6 million) to develop and operate phase one of its first data centre campus in India, at Navi Mumbai.
The 6.6-acre greenfield site at Airoli will be developed in phases into a fully-fitted data centre campus with a total potential built-up area of up to 575,000 sq. ft and 90 MW of power to host customers such as global technology players and cloud service providers, as well as large domestic enterprise clients.
“The acquisition of the site from third-party vendors is expected to be completed by the third quarter of 2021,” the entity said in a statement. “The data centre campus will comprise two buildings. In phase one, the first building, which is scheduled to be ready by 2Q 2024, will have a built-up area of about 325,000 sq. ft,” it added.
“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 the Trustee-Manager of Ascendas India Trust.
“Developing our first data centre campus with support from our sponsor, CapitaLand, will allow us to leverage the CapitaLand Group’s data centre expertise and gives us complete control over the design and quality of the data centre,” he said.
Ms. He Jihong, CEO, Data Centre, and Chief Corporate Strategy Officer, CapitaLand Group, said, “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 acquiring the site for development of our first data centre in India following the recent acquisition of our first hyperscale data centre in China”.