Singapore's Keppel to buy Japanese AI-ready data centre


FILE PHOTO: A Keppel signage is pictured in their office in Singapore July 6, 2023. REUTERS/Edgar Su/File Photo

(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)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with $4 billion investment
Factbox-Who are bankrupt Northvolt's creditors?
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
EU regulators scrap probe into Apple's e-book rules after complaint was withdrawn
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
'World of Warcraft' still going strong as it celebrates 20 years
Northvolt CEO steps down, saying group needs up to $1.2 billion
Bitcoin at record highs, sets sights on $100,000

Others Also Read