SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce the successful acquisition of a land parcel at Fanling Sheung Shui Town in New Territories, Hong Kong SAR through its wholly owned subsidiary, Mapletree TM (HKSAR) Limited, at a price of HK$813 million (~S$139.9 million)1. The approximately 4,000 square metres (sqm) industrial site will be developed into a data centre with a maximum gross floor area of 20,140 sqm.
This property will be Mapletree’s first data centre development in Hong Kong SAR. The proposed development is capable of delivering up to 50MVA of building power and can be leased to an end-user or a data centre operator upon completion in 2023.
Mapletree’s Regional Chief Executive Officer for Australia & North Asia, Mr Wong Mun Hoong said, “We are excited about winning this development land parcel. Long-term macro drivers such as growing cloud computing, e-commerce as well as the impending 5G network, are expected to drive demand for data centres. Hong Kong SAR stands out as an attractive location for data centres with its advanced telecommunications infrastructure, reliable power supply at reasonable cost, limited climate risks as well as strong demand from local corporations for cloud services.”
Fanling is within CLP Group’s 132kV Supply Network, allowing for high load data centre development. In addition to serving the Hong Kong SAR market, the planned development is strategically located approximately six kilometres (km) away from Luohu, providing good connectivity for Chinese cloud players based in Shenzhen. The site is also near the two interconnection points, Man Kam To and Lok Ma Chau. This will allow the development to offer strong network connectivity to major cities in Mainland China for speedy and reliable cross-border communications.
The Group’s portfolio in Hong Kong SAR consists of the landmark Festival Walk retail and office property, held by Mapletree North Asia Commercial Trust, and nine logistics properties held by Mapletree Logistics Trust. The Group also owns a portfolio of data centres in Singapore and the United States, held under Mapletree Industrial Trust.
1Exchange Rate: S$1: HK$5.8133 as of 28 December 2020