CapitaLand India Trust (CLINT) has signed a long-term agreement with a leading global hyperscaler for one of CLINT’s data centres under development.
With this, CLINT is likely to pre-lease about half of its total gross power capacity under development of around 250 MW.
Gauri Shankar Nagabhushanam, CEO of the manager says the decision to diversify into critical infrastructure such as data centres is validated by the strong interest shown by hyperscale and enterprise customers.
"We are on track to complete the development of our data centres in India, accelerate leasing momentum, and unlock value through divestments of partial stakes to strategic investors," says Nagabhushanam.
Gauri Shankar Nagabhushanam, CEO of CLINT / Photo: CLINT
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Manohar Khiatani, CapitaLand Investment's senior executive director overseeing the data centre business, says there's strong growth potential across the asset classes CLINT is active in, including data centres.
"Digitalisation is the global megatrend of our times and CLI has significantly expanded its data centre business and capabilities worldwide in the last few years," says Khiatani, who is also chairman of CLINT's manager.
CLI owns 27 data centres worldwide, offering more than 800 MW in gross power when these assets are all fully completed.
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As for CLINT, it is developing four facilities in all the key data centre corridors of India: Mumbai, Chennai, Hyderabad and Bangalore.
"This strategic diversification strengthens CLINT's portfolio in India, enabling it to deliver quality risk-adjusted returns to unitholders," says CLINT.
CLINT units closed at $1.06 on Jan 14, down 0.93%.
