CapitaLand Investment Establishes China Data Centre Development Fund with S$1 Billion Investments
Summary
CDCP’s establishment is in line with CLI’s strategy to grow its portfolio of new economy assets under management and enhance long-term business resilience.The data centre development projects are expected to be completed in 2025 and will deliver over 100 megawatts (MW) of power to meet growing demand from the world’s most populous national capital city. We are seeing strong investor interest as the surge in demand for cloud computing, 5G technology, and e-commerce are driving growth in this sector. CLI’s competitive advantage lies in our position as a vertically integrated group in China with a full range of capabilities, from investment sourcing, development, having a strong customer network to operations. Against this background, cloud computing has emerged as a critical component of digital technology, with China’s public cloud service market growing 35% in 1H 2022.CapitaLand’s global data centre portfolioCapitaLand has a portfolio of 26 data centres in Asia and Europe with total assets under management of S$6 billion on completed basis. Together, these eco-friendly solutions and initiatives can achieve over 20% in energy savings when compared to other data centres using conventional cooling and heating systems.