Keppel Acquires AI-Ready Data Centre in Tokyo Amid Growing AI Demand
3 Sources
3 Sources
[1]
Singapore's Keppel to Buy Japanese AI Data Centre Amid AI Boom
(Reuters) - Singapore's Keppel said on Tuesday it has agreed to buy an artificial intelligence-ready data centre facility being developed by Japan's biggest property group Mitsui Fudosan in Tokyo. The deal comes less than two weeks after the asset manager said it plans to more than double its data centre funds under management from S$9 billion ($6.84 billion) currently to S$19 billion in the near term to tap into the AI frenzy. Mitsui Fudosan will develop the core and shell of the data centre, while Keppel's private fund will undertake the fit-out works, the Singaporean company said. Keppel said it would be the facility manager when the data centre is ready in 2027, adding to its recurring income. "We look forward to working even closer with Mitsui Fudosan ... to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III," said Christina Tan, Keppel's chief investment officer and CEO of fund management. The company did not immediately respond to an email from Reuters requesting to disclose the value of the deal. ($1 = 1.3167 Singapore dollars) (Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar)
[2]
Singapore's Keppel to buy Japanese AI data centre amid AI boom
Nov 5 (Reuters) - Singapore's Keppel (KPLM.SI), opens new tab said on Tuesday it has agreed to buy an artificial intelligence-ready data centre facility being developed by Japan's biggest property group Mitsui Fudosan (8801.T), opens new tab in Tokyo. The deal comes less than two weeks after the asset manager said it plans to more than double its data centre funds under management from S$9 billion ($6.84 billion) currently to S$19 billion in the near term to tap into the AI frenzy. Mitsui Fudosan will develop the core and shell of the data centre, while Keppel's private fund will undertake the fit-out works, the Singaporean company said. Keppel said it would be the facility manager when the data centre is ready in 2027, adding to its recurring income. "We look forward to working even closer with Mitsui Fudosan ... to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III," said Christina Tan, Keppel's chief investment officer and CEO of fund management. The company did not immediately respond to an email from Reuters requesting to disclose the value of the deal. ($1 = 1.3167 Singapore dollars) Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar Our Standards: The Thomson Reuters Trust Principles., opens new tab
[3]
Singapore's Keppel to buy Japanese AI-ready data centre
(Reuters) -Singapore's Keppel said on Tuesday it had agreed to buy an artificial intelligence-ready data centre facility being developed by Japan's biggest property group Mitsui Fudosan in Tokyo. The deal comes less than two weeks after the asset manager said it plans to more than double its data centre funds under management from S$9 billion ($6.84 billion) currently to S$19 billion in the near term to tap into the AI frenzy. Mitsui Fudosan will develop the core and shell of the data centre, while Keppel's private fund will undertake the fit-out works, the Singaporean company said. Keppel said it would be the facility manager when the data centre is ready in 2027, adding to its recurring income. "We look forward to working even closer with Mitsui Fudosan ... to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III," said Christina Tan, Keppel's chief investment officer and CEO of fund management. The company said in an emailed response to Reuters it could not disclose financial details about the deal due to confidentiality reasons. ($1 = 1.3167 Singapore dollars) (Reporting by Shivangi Lahiri in Bengaluru, additional reporting by Rishav Chatterjee; Editing by Shilpi Majumdar)
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Singapore's Keppel has agreed to purchase an AI-ready data centre facility in Tokyo, developed by Mitsui Fudosan, as part of its strategy to expand its data centre portfolio and capitalize on the increasing demand for AI infrastructure.
Keppel's Strategic Acquisition in Tokyo
Singapore-based Keppel Corporation has announced its agreement to acquire an artificial intelligence-ready data centre facility in Tokyo, currently under development by Mitsui Fudosan, Japan's largest property group 1. This strategic move comes as part of Keppel's ambitious plan to capitalize on the growing demand for AI infrastructure and expand its data centre portfolio.
Expansion of Data Centre Funds
The acquisition aligns with Keppel's recently announced strategy to more than double its data centre funds under management. The company aims to increase its funds from the current S$9 billion ($6.84 billion) to S$19 billion in the near future, positioning itself to take advantage of the ongoing AI boom 2.
Collaborative Development and Management
Under the terms of the agreement, Mitsui Fudosan will be responsible for developing the core and shell of the data centre. Keppel's private fund will then undertake the fit-out works, ensuring the facility meets the specific requirements for AI-ready infrastructure 3.
Long-term Management and Income Generation
Keppel has confirmed that it will assume the role of facility manager once the data centre is operational, which is expected to be in 2027. This arrangement is set to contribute to Keppel's recurring income stream, further solidifying its position in the data centre market 1.
Strategic Partnership and Future Prospects
Christina Tan, Keppel's Chief Investment Officer and CEO of fund management, expressed enthusiasm about the deal, stating, "We look forward to working even closer with Mitsui Fudosan ... to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III" 2. This statement suggests that Keppel is looking to strengthen its partnership with Mitsui Fudosan for potential future collaborations in the data centre space.
Financial Details Undisclosed
While the acquisition marks a significant step in Keppel's expansion strategy, the company has not disclosed the financial details of the deal. When approached by Reuters, Keppel cited confidentiality reasons for withholding this information 3.
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