Keppel Ltd. this week announced that its private fund, Keppel Data Centre Fund II (KDCF II), has entered into a sale and purchase agreement with Mitsui Fudosan for the forward purchase of Keppel Data Centre Tokyo 2, a data center facility currently being developed by Mitsui Fudosan. Mitsui Fudosan will develop the core and shell of the data center, while KDCF II will undertake the fit-out works. Keppel will be the facility manager.
Christina Tan, CEO fund management and chief investment officer of Keppel said: “We are delighted to celebrate the groundbreaking of Keppel DC Tokyo 2 which firmly establishes Keppel’s presence in Japan’s thriving data center market. With the rapid growth of generative AI and cloud services, demand for data centers will continue to surge and we are well-positioned to meet the requirements of our hyperscale customers with another future-ready data center. We look forward to working even closer with Mitsui Fudosan, a leader in real estate development, to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III.”
Hiroyuki Shinozuka, COO (Logistics Properties Business Division), Mitsui Fudosan added: “This win-win partnership has enabled Keppel and Mitsui Fudosan to leverage each other’s strengths to develop a high-quality data center asset that will deliver value for all our stakeholders. Together, we are setting new standards for next-generation digital infrastructure assets in Japan and we hope to further strengthen our collaboration with Keppel to explore more growth opportunities.”
