Keppel Acquires AI-Ready Data Center in Tokyo from Mitsui Fudosan
Sign up for ARPU: Stay ahead of the curve on tech news.
Singapore-based Keppel Corporation has agreed to purchase an artificial intelligence (AI)-ready data center facility being developed by Mitsui Fudosan, Japan's largest property group, in Tokyo, reports Reuters.
This deal comes less than two weeks after Keppel announced plans to more than double its data center funds under management from S$9 billion to S$19 billion, reflecting the company's commitment to capitalizing on the burgeoning AI sector.
Under the agreement, Mitsui Fudosan will construct the core and shell of the data center, while Keppel's private fund will oversee the fit-out works. Once the facility is operational in 2027, Keppel will assume management responsibilities, generating additional 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, as quoted by Reuters.
Keppel declined to disclose financial details of the transaction due to confidentiality concerns.