Mapletree acquires industrial site in Hong Kong for HK$813m

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MAPLETREE Investments on Friday said it has acquired an approximately 4,000 square metre (sq m) industrial site in New Territories, Hong Kong for HK$813 million (S$139 million), and plans to develop a data centre on the land.

The data centre, estimated to be completed by 2023 with a maximum gross floor area of 20,140 sq m, will mark the real estate company’s foray into data centres in Hong Kong.

Mapletree said the proposed development, located in Fanling, has potential to deliver up to 50 megavolt amperes of building power, being connected to CLP Group’s 132 kilovolt supply network.

The statement said the development can be leased to an end-user or data-centre operator upon completion.

“We are excited about winning this development land parcel,” said Wong Mun Hoong, Mapletree’s regional chief executive officer for Australia and North Asia.

“Hong Kong SAR stands out as an attractive location for data centres, with its advanced telecommunications infrastructure, reliable power supply at reasonable cost, limited climate risks as well as strong demand from local corporations for cloud services.”

The site is about 6 km away from Luohu and close to interconnection points Man Kam To and Lok Ma Chau, and it is providing a “strong network connectivity to major cities in mainland China for speedy and reliable cross-border communications”.

The acquisition is the group’s 11th addition in Hong Kong, on top of nine logistics properties held by Mapletree Logistics Trust and one held by Mapletree North Asia Commercial Trust.

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