Keppel Data Center REIT: Keppel DC REIT to acquire its first data center in China for $98 million

Jul 28, 2021 | Posted by Abdul-Rahman Oladimeji

Keppel DC REIT has completed the acquisition of its first data center in China. The firm completed the agreement with Guangdong Bluesea Data Development Co. Ltd. and its parent Company, Guangdong Bluesea Mobile Development Co., to acquire the Guangdong Data Center in Jiangmen. The deal costs RMB 635.9 million ($98.1 million).

Anthea Lee, CEO of Keppel DC REIT, commented that China is the largest data center market in the Asia Pacific region and the world's second-largest data center market. She further added that the acquisition of the Guangdong data center helps the Company take advantage of the growing digital economy in China. She also noted that the acquisition shows Keppel's commitment to investing in high-quality data center assets in the world.

Keppel DC will lease back the seven-story, 221,689 square feet property to Bluesea on a triple net basis for 15 years.