INET, a Thai data center firm, is setting up a data center Real Estate Investment Trust (REIT) in Thailand. The REIT arm of the firm (INETREIT) will make an initial capital commitment of 4.3 billion baht ($130.5 million) in INET’s IDC3 Phase 1 project in Saraburi Province. INET also says the REIT will be listed on the Thailand Stock Exchange in early August.
INET currently has three data centers. The IDC1 and IDC2 facilities are in Bangkok, while IDC3 is in Saraburi Province. The IDC3 facility currently has 20,450 square feet of data center halls. Additional 38,750 square feet of space is also scheduled for construction.
INETREIT will acquire IDC3 Phase 1, while INET will lease the facility from INETREIT for $11 million a year. The lease is expected to run for 24 years.
