Digital Realty Trust: Digital Realty Forms JV With Mvine For Data Center Development

Digital Realty has announced a joint venture with Mivne Real Estate to develop a data center campus in Tel Aviv, Israel. The plan is to develop a multi-tenant data center campus. Mivne is a real estate company with a lot of land across Israel. According to reports, the firm owns up to 1.9 million square meters of income-yielding buildings/lands and up to 780,000 square meters of unoccupied land. 

Both companies will operate the JV under the Digital Realty Mivne name. The new agreement will see the companies develop a 20MW data center. The first phase of the planned facility will be delivered in 2023. The CEO of Digital Realty, William Stein, said the JV with Mivne is important as the company has a significant land bank across the country. According to him, the partnership will lead to the development of purpose-built data centers across strategic locations in the country.