Industrial landlord MapleTree Industrial Trust (MIT)(SGX:ME8U) has signed an agreement to develop and lease a data centre for US-listed American IT provider Equinix (NASDAQ:EQIX). The seven-storey 385,000 square feet facility will be built within the compound of high-tech business park, one-north, near Buona Vista (Singapore).
|Tata Communications Exchange was the first data centre developed by Mapletree Industrial Trust. The Equinix data centre further strengthens the trust foothold in this property segment.|
Equinix Singapore provides regional support to the Asia Pacific operations. The company has stated that it currently routes 90 per cent of the world’s internet traffic over 900 telecommunication exchanges in 15 countries. This data centre in Singapore is its third in the country
The property is slated to go online in the second half of 2014 and will provide approximately 5,000 cabinets of servers when operating at full capacity. Equinex has agreeed to lease the data centre from MIT on an initial tenure of 20 years with an option to renew for two additional five-year terms, or any other duration depending on the remaining land lease.
This is MIT’s second data centre development. Tata Communications Exchange at Paya Lebar iPark was completed in 2010 as the flagship data centre for Tata Communications International Pte. Ltd.