Sep 27, 2024 | Posted by Abdul-Rahman Oladimeji
Princeton Digital Group (PDG) has signed a deal with business park developer Mindspace REIT to develop three more data centers outside Mumbai, India. Under this partnership, Mindspace REIT will develop three additional built-to-suit data centers for PDG, adding a further 1 million sq ft to its portfolio. Spanning 15 acres, the new developments will become a part of the larger 50-acre campus at Mindspace Airoli West.
Ramesh Nair, CEO, Mindspace REIT said: “This deal reinforces our commitment to diversifying our portfolio and tapping into high-growth sectors like data centers. For us, integrating data centers into our portfolio makes strategic sense as they offer stable and long-term revenue streams, future proofs our portfolio, and help diversify income sources.”
Mindspace said the REIT has already developed two data centers for PDG, totaling 630,000 sq ft (58,530 sqm). Upon completion, the Airoli West park will feature five data center buildings, with the total data center footprint within the Mindspace REIT portfolio standing at 1.65 million sq ft (153,290 sqm).
