DATA CENTRE UPDATE

APAC:
Hong Kong, Jakarta,
Singapore, Sydney,
TokyoDATA CENTRE UPDATEHONG KONG
FIRST HALF 2022
Key Indicators
Under Construction

348 MW
Vacancy

15%
Hong Kong Market Map

Market Overview
Expansion of established players and new entrants into Hong Kong continued through 2022. Institutions such as
Nuveen, China Mobile, GDS and others have announced further expansions in the market since the beginning of
the year. Despite limitations on available land and geopolitical tensions, investors have been unwavering in their
dedication to the market, continuing to make substantial commitments. This year, Nuveen and ESR Cayman joined
recent institutional players such as GDS and Mapletree in making a foray into Hong Kong. Nuveen’s Asia Pacific
Cities Fund (APCF) acquired a 14 MW centre in Kwai Chung. Confirming rumors from 2021, GDS continued its
planned expansion in Hong Kong. The firm added a third and fourth (HK3 & HK4) data centre to its pipeline.
Neither are traditional ground-up developments for GDS, as HK3 is a shell currently being developed by a landlord
and HK4 is an existing industrial building which will be adaptively reused. These point to a market landscape wherecompetitors are increasingly getting more creative to expand their portfolios.
The rapidity of newly announced projects points to the continued demand by hyperscalers for significant scaling
options. Despite vacancy remaining at a respectable 15%, availability of large-capacity options remains limited andwill continue to drive larger builds that can satisfy the requirements of hyperscalers from both Mainland China andthe United States, including Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba, Tencent, Huawei
Cloud and Kingsoft. Projects from Equinix, Digital Realty, SUNeVision and Vantage continue to make progress ondelivery of their respective pipelines. With new projects from these providers continually being announced, coupledwith new capital entrants every year, expect the amount of capacity under construction to increase throughout therest of the year.

Ecosystem Developments•

Nuveen acquired a 270,000 sf data centre asset in Hong Kong’s Kowloon West area for $371M. The asset iscurrently leased to Digital Bridge’s Vantage Data centres.

•

China Mobile is building a new facility on a 1M sf site in the Fo Tan area of Sha Tin, New Territories, which it
said will be completed in 2025.

•

SUNeVision has acquired land in Hong Kong designated for a cable landing station (CLS) or ground station.
It said the site will be used to develop SUNeVision’s second landing station for international submarine cables,
following its first landing station–HKIS-1–launched last year nearby to the newly-acquired plot.

•

Hong Kong property firm Carrianna Group has launched a new data centre (28,000 sf) in the Kwai Chung
Industrial Area.

•

ESR Cayman announced its intentions to expand its Hong Kong footprint in the wake of a record-setting
earnings of $377M in 2021.

DATA CENTRE UPDATEHONG KONG
FIRST HALF 2022
Ecosystem Developments Continued

MORE INFORMATION•

Digital Realty launched its HKG11 facility in Kwai Chung. As the second data centre in the market for Digital
Realty, the initial phase will provide 7.5 MW while the asset should reach 24 MW of critical capacity at full buildout.

•

GDS announced further expansion for its pipeline of data centres in Hong Kong. The firm entered into a definitive
agreement to lease an under construction shell in Kowloon West. This asset, dubbed HK3, is expected to deliverin the second half of 2024. Another asset, HK4, located in Kwai Chung is planned for delivery in 2025.

Keith Chan
Head of ResearchHong Kong+852 2956 7021
keith.chan@cushwake.com

Construction Update
OPERATORLOCATION

PROJECTTOTAL POWER (MW)STAGE / EST. DELIVERY

Equinix

Tsuen Wan
Kwai Chung
Kwai Chung
Kowloon West
Kwai Chung
Tsuen Wan
Fanling
Tseung Kwan O
Tseung Kwan O
Tsuen Wan
ShatinFanling
Kwai Chung
ShatinSha Tsui Road Project
HK1
HK2
HK3
HK4
TWTL 428
11 On Chuen St
TKOTL 131 (Phase 1)
TKOTL 131 (Phase 2)
Tsuen Wan
Goodman Logistics Ctr
FSSTL 268
ESR Kwai Chung
STTL 613

40 (est)7.9
20 (est)20 (est)20 (est)10 (est)
10
50
130
40
20 (est)50
40
80 (est)Under Construction / Q4 2022
Under Construction / Q2 2022
Under Construction / Q1 2024
Under Construction / Q3 2024
Under Construction / Q4 2025
Under Construction / Q4 2022
Under Construction / Q4 2022
Under Construction / Q2 2023
Under Construction / Q4 2023
Under Construction / Q4 2022
Under Construction / Q4 2022
In Planning / Q4 2024
In Planning / Q4 2024
In Planning / Q4 2024

GDS

SUNeVision

Vantage Data centres
Mapletree
ESR
China Mobile

Jacob Albers
Director of Research
Global Data centre Advisory Group+1 312 424 8086
Jacob.albers@cushwake.com

Recent Hong Kong Data centre Sales
PROPERTY

SALE DATELOCATION

PRICE (HKD MILLION)

UNIT PRICE (HKD PSF, GFA)

PURCHASER

43 Container Port Rd

April-22

Kwai Chung

2,880

10,667

Nuveen©2022 Cushman & Wakefield. All rights reserved. The
information contained within this report is gathered frommultiple sources believed to be reliable. The information
may contain errors or omissions and is presented without
any warranty or representations as to its accuracy.

DATA CENTRE UPDATEJAKARTAFIRST HALF 2022
Key Indicator

Under Construction

127 MW

MORE INFORMATION
Wira Agus
Director
Global Data centre Advisory Group+62 212 550 9542
Wira.agus@cushwake.com
Arief Rahardjo
Director
Strategic Consulting+62 21 2550 9540
Arief.rahardjo@ap.cushwake.com
Jacob Albers
Research Manager
Global Data centre Advisory Group+1 312 424 8086
Jacob.albers@cushwake.com©2022 Cushman & Wakefield. All rights reserved. The
information contained within this report is gathered frommultiple sources believed to be reliable. The information
may contain errors or omissions and is presented without
any warranty or representations as to its accuracy.

Market Overview
Driven by high undersea cable connectivity, a central geographic location in Southeast Asia and immense
population growth undergoing digital transformation, Jakarta has been catapulting itself to a global data centre
market. Major cloud services and institutional capital have increasingly made inroads into the market.
All major cloud services are now present or will soon be, vying for businesses serving the top-five global
population throughout Indonesia, along with the potential growth of a further 100 million people getting online
for the first time over the coming decades. This has allowed Jakarta to leap ahead of the small builds that exist
in many similar cities and straight to hyperscale, with 127 MW currently under construction through this year
and further operators looking for entry points. While active development in the market has fallen slightly since
mid-2021, the number of planned projects and expansions has surged. Together, the current projects will growthe Jakarta market by over 900 MW, with little unattractive legacy infrastructure holding back large-scale
deployment. It is safe to expect further positive headlines with many of these announced projects transitioning
to active construction through 2022.

Ecosystem Developments•

Big Data Exchange (BDx) announced the launch of BDx Indonesia, assuming operations for four existingdata centres in the Jakarta market. BDx plans to upgrade these existing centres as well as develop
greenfield sites, with a goal of reaching 70 MW by 2023 and 250 MW in the next five years. The set of data
centres will be offer connectivity to BDx’s cluster in China and Singapore.

•

EdgeConneX enters the Jakarta market with the acquisition of a local 7 MW data centre owned by GTN
and the development of adjacent land that will total 90MW in capacity once fully developed.

•

NTT has launched its Jakarta 3 data centre. The facility will offer 15.2 MW of initial capacity and eventually
will attain 40 MW once fully built out. Jakarta 3 will be connected to the upcoming APRICOT cable systemthat will arrive in 2024, which link all of NTT’s major data centres in the area.

•

DCI opened the first phase of a planned data centre in Karawang, East of Jakarta. The first phase of the
project, H2-01, has 15 MW in capacity. When fully built out, the campus will reach a total capacity of 600
MW.

•

Indonet, recently acquired by Digital Edge, opened a 6MW facility in downtown Jakarta. The firm has
acquired two sites in Kuningan to further help build out a further 40 MW capacity for the market.

DATA CENTRE UPDATEJAKARTAFIRST HALF 2022
Ecosystem Developments (continued)

Latest developments from Batam•

AWS launched a new cloud region, ap-southeast-3, in Jakarta at the end of
2021. The facility joins two Direct Connect and one CloudFront edge locationthat AWS currently operates in the market.

•

Indosat announced a partnership with Tech Mahindra to establish itself as
the top telecommunications provider in Indonesia. The partnership is aimed
at integrating 5G, cloud services and IoT across Indonesian networks.

•

The Indonesian Government reiterated its commitment towards the digitaltransformation of the country’s infrastructure. 360,000 kilometers of cablehave been installed, with 12,000 kilometers under development. The
government is also planning two multifunctional satellites, each with a 150
GBps capacity.

While Jakarta continues to expand, the data centre moratorium in Singapore has
led to some creative solutions, including at the nearby recently-designatedspecial economic zone (SEZ) of Batam. Batam Island is located 30 kilometresacross the Singapore Strait, and the Nongsa Digital Park has rapidly drawninterest thanks to the business and income tax breaks available. Initially, theGaw Capital-backed Data Centre First secured a 2.75-hectare site for data
centre development, and a partnership between Telkom Indonesia (Telin) andEtisalat is reportedly making plans in the same area. At the end of 2021, GDS
announced a purchase of a site in Batam for the development of two data centre
buildings that would total 28 MW of IT capacity upon completion. GDS has alsoannounced that it will be the strategic partner of a major Chinese cloud provider
for the region. As 2022 continues, expect further purchase announcements at
the Batam market continues to grow.

Recent Site Sales
PROPERTY

SIZE (SQM)

SALE DATEBUYERSELLER

Mataram, Lippo Cikarang

40,000Feb-22

EdgeConnex

Multipolar Technology

PROPERTY

Construction Update
OPERATORLOCATION

SIZE (SQM)

POWER (MW)STAGE / EST. DELIVERY

Pure Data Centres
Princeton Digital
STT

JakartaJC2
Bekasi

20,00022,80060,000 (est)

20
35
72

Under Construction / Q2 2022
Under Construction / Q3 2022
Under Construction / Q1 2023

DATA CENTRE UPDATESINGAPORE
FIRST HALF 2022
Key Indicators
Under Construction

165 MW
Vacancy

1%
MORE INFORMATION
Xian Yang Wong
Head of Research
Singapore
Tel: +65 6232 0885
Xianyang.wong@cushwake.com

Market Overview

Singapore’s moratorium on data centre construction concluded at the start of 2022. However, the Trade and Industry Ministry
has clarified that it will be more selective with approvals of new developments going forward. With the aim of reaching climate
goals, the government will "seek to anchor data centres that are best-in-class in terms of resource efficiency, which cancontribute towards Singapore’s economic and strategic objectives" as well as aiming to "raise the efficiency of existing data
centres over time."
The government has announced a 12-to-18-month pilot program starting in Q2 2022 that will accept three developments froman application pool. These developments will be required to be 10-30 MW and 1.3 PUE or less. Developments with sponsors
that have strong track records of developing data centres in Singapore as well as demonstrated commitment towards
sustainability will be prioritized for approval. This capacity restriction will continue to drive larger hyperscale deployments tonearby markets such as Jakarta, Kuala Lumpur, Johor Bahru and Batam.
The limited development pipeline will continue to place downward pressure on vacancy which recently fell below 1% in Q2
2022. Singapore has also been connected to other major moves in the data centre space. BDx confirmed their HQ relocation
to Singapore in March. Singapore’s CapitaLand also announced a USD $1.5B investment in expanding data centres acrossIndia. The government’s plans to improve its technical infrastructure also came to fruition with the announcement of a formal
partnership with Microsoft.

Ecosystem Developments•

Brenda Ong
Executive Director
Logistics & Industrial
Tel: +65 6232 0878
Brenda.ong@cushwake.com•

Jacob Albers
Research Manager
Global Data centre Advisory Group+1 312 424 8086
Jacob.albers@cushwake.com

•

•
•

•
•

•
•
©2022 Cushman & Wakefield. All rights reserved. The
information contained within this report is gathered frommultiple sources believed to be reliable. The information
may contain errors or omissions and is presented without
any warranty or representations as to its accuracy.

•

Singapore’s Home Team Science and Technology Agency announced a strategic agreement with Microsoft to establish asovereign cloud utilizing Microsoft Azure to support non-sensitive computational infrastructure. Microsoft has had anestablished cloud region in Singapore since 2010.
Microsoft and Oracle Cloud launched an interconnection node in Singapore. This will be the 11th such node for thepartnership and the third in the APAC region.
Digital Realty completed an IPO listing of its Digital Core REIT on the Singapore Exchange (SGX) for USD $600M.
Equinix completed an expansion of its fifth data centre in the market, SG5, in April 2022. The USD $86M project raises thefacility’s total space to 83,000 sf.
Empyrion DC, a portfolio company of Seraya Partners, acquired Dodid–a Singapore-based data centre operator–for USD$147M. Dodid’s assets include a 12.5 MW data centre in Singapore, where it acted as both owner and operator.
CoolestDC, a Singapore-based startup focusing on a hybrid cooling patent, entered a strategic partnership with Digital
Realty to deploy patented hybrid cooling technology into existing air-cooled data centres.
Wasabi, a cloud storage provider, opened a new storage node in Singapore. The location will be its fourth, with previous
regional locations including Osaka, Sydney and Tokyo.
BDx relocated its headquarters from Hong Kong to Singapore in March 2022. The move highlights Singapore’s strengths interms of connectivity, talent and sustainability commitments and the high growth opportunities for data centres throughout
Southeast Asia.
STACK Infrastructure opened its APAC regional HQ in Singapore. The company has active projects in Inzai, Japan andalso Melbourne, Canberra and Perth. Other APAC target markets for development include Singapore, Hong Kong and South
Korea.
DigitalBridge and Columbia Capital closed on the acquisition of a portfolio of assets from Superloop located in Singaporeand Hong Kong for USD $102M.

DATA CENTRE UPDATESINGAPORE
FIRST HALF 2022
SINGAPORE MARKET MAP

ECOSYSTEM DEVELOPMENTS

The largest cluster of data centres in Singapore can be found in the
Loyang and Tai Seng areas, with other locations scattered throughout.

•Keppel closed fundraising for a partnership with Asia Pac Technology. The fund reached$1.1B in commitments, including $150M from AIIB, to develop hybrid and multi-cloud
solutions across the region.

•

Princeton Digital Group raised USD $500M of equity from Mubadala, Warburg Pincus andOntario Teachers Pension Plan (OTPP).

•

Construction began on the SEA-ME-WE 6 that will connect Singapore to Marseille, andinclude landing points at Egypt, Saudi Arabi, Djibouti, Pakistan, Mumbai, The Maldives, Sri
Lanka, Bangladesh and Malaysia. Construction should be complete in Q1 2025.

•

The Pakistan and East Africa Connecting Europe (PEACE) subsea cable is planned to
be extended to Singapore by 2023. The existing cable network connects Marseille, malta,
Cyprus and Egypt, with progress toward connections to Pakistan and Kenya.

•

The US-based Subsea Cloud has announced that it will deploy subsea data centre pods
near Singapore in partnership with the government. The company claims these pods will
help address some of the land and sustainability issues faced by the industry in Singapore
and many other markets. The underwater pods are claimed to reduce power requirements
by 40% and reduce emissions and operating costs.

•

NTU Singapore and Red Dot Analytics are collaborating to develop technologies utilizing
AI and digital twins to emulate and evaluate data centre operations. The partnership isaiming to reduce energy usage and emissions from data centres.

•

Kaspersky has opened a Transparency centre in Singapore, providing trusted facilities
where customers and partners can review code, software updates, threat detection rules
and other activities. The company is also opening similar facilities in Japan and the US.

Construction Update
OPERATORLOCATION

GFA SIZE (SQM)

TOTAL POWER (MW)STAGE / EST. DELIVERY

Meta

Tanjong Kling

170,000

150

Under Construction / Q2 2022

STT

Defu 3

14,50015

Under Construction / Q3 2022

DATA CENTRE UPDATESYDNEYFIRST HALF 2022
Key Indicators
Under Construction

76 MW
Vacancy

7%

Market Overview
The Sydney market continues to grow at a rapid pace. Multiple hyperscale facilities have been announced across themarket, with some already entering construction. Amazon, Microsoft and Google have all either been attached to new
projects or at least have increased investment toward digital infrastructure in Australia. The scope of new data centres isalso astonishing, with multiple projects estimated to exceed 300 MW at full buildout.
While planned projects continue to deepen Sydney’s data centre pipeline, the projects actively under construction haveremained relatively stable at 76 MW (this value was at 80 MW in the H2 2021 edition of this report). Many of the players
actively under construction on facilities are the same names doubling down on planning for future projects. NextDC,
Stockland, MacQuarie and AirTrunk have all announced further projects with major projects under construction or recently
delivered. So far, vacancy has not sizably varied since the H2 2021 report, holding steady at a tight 7%. This figure could
oscillate quickly, as new projects come online and are quickly absorbed by the high demand from both private and public
sources.

MORE INFORMATION

Operational capacity is spread nearly evenly among Equinix, AirTrunk, NextDC, and Global Switch, with Canberra Data
Centres and Digital Realty closing in. This allows for continued pricing and offering competition, unlike other markets
globally that are occasionally dominated by a single provider.

Orlando Maciel
Director, Head of Industrial
New South Wales
Tel + 61 2 9224 8032
Orlando.maciel@cushwake.com

The investment market has continued to be quiet since the last edition of this report. Cap rates remain in the low 4s, whilefunds remain hungry for the long leases and stability offered in Sydney. Expect continued strength in coming months fromthe local market, with the familiar mix of global and local operators competing for hyperscale, government and large
enterprise business across a variety of new projects.

Jacob Albers
Research Manager
Global Data centre Advisory Group+1 312 424 8086
Jacob.albers@cushwake.com©2022 Cushman & Wakefield. All rights reserved. The
information contained within this report is gathered frommultiple sources believed to be reliable. The information
may contain errors or omissions and is presented without
any warranty or representations as to its accuracy.

Ecosystem Developments•

AirTrunk announced a 320 MW hyperscale facility in Western Sydney, proximal to AirTrunk initial hypescale data centre.
This will bring the total capacity for AirTrunk’s Western Sydney region to 450 MW when complete.

•

Stockland received government approval for the construction of a $264M AUD data centre in North Sydney totaling 6,300
sqm. The facility is to be leased to a major cloud computing provider, reportedly AWS.

•

Microsoft, in partnership with Frasers Property and Altis Property Partners, is seeking government permission for a 190
MW, 122k sqm data centre campus in Western Sydney.

•

MacQuarie Data Centres completed its 16 MW facility at the MacQuarie Park Data Centre Campus in Sydney’s North
Zone. The project sourced an initial investment of $85M AUD and has a 10 MW lease signed with a confidential customer.
MacQuarie is already working on a follow-up 32 MW facility on the campus.

•

Leading Edge Data Centres (LEDC) has secured $30M AUD equity from DigitalBridge for a 15 MW pipeline across New
South Wales, Victoria and Queensland•

NEXTDC and Multiplex plan to open the first phase of their S3 Sydney data centre to customers in H2 2022. This planned
data centre will consist of 26,770 sqm and will aim to attain the highest standards of sustainability and energy efficiency.

DATA CENTRE UPDATESYDNEYFIRST HALF 2022
Sydney Potential
0

500

1000

1500

2000

2500

3000

3500

Northern Virginia
London
Silicon Valley
Tokyo
Frankfurt
ChicagoSingapore
Amsterdam
SydneyMumbaiOperational

Under Construction

In Planning

While many primary global markets havestruggled with ever-increasing data centre
capacity of late, Sydney has the potential tosurpass many others on its way to being a 1
GW city. If all potential phases on all land
currently banked by operators is completed
over time (reflected in the “in planning”
number on this chart for a longer-term
outlook than the Construction Update
below), Sydney and Tokyo will continue tothrive as destinations for hyperscalers.

Construction Update
OPERATORPROJECT

SIZE (SQM)

POWER (MW)STAGE / EST. DELIVERY

Digital Realty

Erskine Park III

6,279

7.2

Under Construction / Q4 2021

NextDC

S3
S4

20,000200,000 (est)12300

Under Construction / Q2 2022
In Planning

DCI

SYD02

35,00036

Under Construction / Q4 2022

Stockland

Athena22,51525 (est)Under Construction / Q1 2023

Macquarie

IC3 Super West30,000 (est)32

In Planning / Q4 2023

AirTrunk

SYD1 (Phase 2)
SYD3

12,000 (est)220,000 (est)40
320

In Planning
In Planning

DATA CENTRE UPDATETOKYOFIRST HALF 2022
Key Indicator
Under Construction

78+ MW

MORE INFORMATION
Hideaki Suzuki
Director of Research, Japan
Tel: +81 3 3596 7804
hideaki.suzuki@cushwake.com
Mari Kumagai
Head of Research & Consulting, Japan
Tel: +81.3.6625.8323
mari.kumagai@cushwake.com

Market Overview

Since our last report, investment and development in the Tokyo market have continued at a rapid pace. New entrants
ESR and Gaw Capital have made major announcements. Existing players such as @TOKYO brought online a new
facility the greater Osaka area, while STACK Infrastructure and Internet Initiative Japan have all released plans for
new facilities or expansions. Currently, the total capacity under construction is estimated to be at least 78 MW, withpotential upside risk from many developments yet to be announced. While land availability remains limited in Central
Tokyo, outlying areas have continued to provide sufficient land options for the development of hyperscale campuses.
Tokyo remains underserved in terms of data centre stock per capita relative to other global peer cities, equivalent toless than 5% of that in Singapore. This supports robust demand ahead from major cloud service operators. As
options increase for the growing tenant demand in the market, the coming years should have impressive performancefor the rest of this year and continuing into 2023, both for investors and operators.

Ecosystem Developments•

Singapore-based GLP is expecting the first building in its development portfolio to be complete in 2024. As
was previously reported, the logistics developer is planning to develop a 600 MW campus as its initial project for the
Tokyo market.

•

Princeton Digital Group and Lendlease have initiated construction of a 100 MW facility in Saitama City. The data
centre is expected to be completed in 2024.

•

AirTrunk is following up the completion of its initial 60 MW phase (300 MW at full buildout) TOK1 project in Tokyo
with a planned 110 MW TOK2 campus in West Tokyo. AirTrunk will continue to partner with Daiwa House for theconstruction of this second facility.

•

ESR announced its first project for the Tokyo market. The REIT plans to convert a recently acquired office campus
in Higashi Kurume into a 20 MW facility. ESR already is developing a data centre project in Osaka.

•

Gaw Capital announced its first data centre project for Tokyo. Located in Fuchu City, the multiphase project will total
39 MW at full buildout.

•

STACK Infrastructure and Oaktree Capital have broken ground on a 36 MW campus in Inzaii, East of Tokyo.

•

Internet Initiative Japan has plans to develop a Phase 2 for its Shiroi data centre campus in East Tokyo.
Construction of the 10 MW commenced in May 2022.

•

Hulic, a Japanese developer, is expanding an existing office building under its ownership to include a data centre
buildout.

•

The Japanese Government announced a plan to expand undersea cable connection and construction of rural data
centres throughout Japan. The government has committed JPY 50 ($440B USD) to the project over the next three
years.

Yuko Kamei
Research & Consulting, Japanyuko.kamei@cushwake.com
Jacob Albers
Research Manager
Global Data Center Advisory Group+1 312 424 8086
Jacob.albers@cushwake.com©2022 Cushman & Wakefield. All rights reserved. The
information contained within this report is gathered frommultiple sources believed to be reliable. The information
may contain errors or omissions and is presented without
any warranty or representations as to its accuracy.

DATA CENTRE UPDATETOKYOFIRST HALF 2022
OPPORTUNITIES AWAIT OUTSIDE OF INZAIWith increasing projects being announced for the Inzai cluster over the past year, there has
also been growing questions as to what other submarkets of the Greater Tokyo market canbe ideal for data centre development. Most developments remain within 30 km radius fromthe city center, Otemachi in Tokyo CBD, to prevent an unintended delay in data transmission
speed. The West Tokyo area continues to attract the future demand due to the available
land/labor/power supply. Over the past quarter, sizable institutionally-backed facilities havebeen announced across several sites to the West of Tokyo. AirTrunk, which recently
launched its 60 MW TOK1 facility in Inzai, announced that its TOK2 centre would be 110 MW
located in West Tokyo. This is joined by the previously mentioned 20 MW data centre
planned by ESR for Mitaka. Both NTT and Digital Realty already have established facilities in
Mitaka. Several other data centres also exist in these submarkets, including Telehouse’sTama 3 & 5 facilities built in 2014 and 2020. Vantage also continues work on its HND1
development in Sagamihara. At completion of all phases, the facility will offer 80 MW ofpower. While Inzai will continue to see rising development, there remain opportunities acrossother areas of Tokyo.

Recent Property Sales
PROPERTY

SIZE (SQM)

SALE DATEBUYERSELLER

1-43 Nikkocho, Fuchu, Japan 183-0044

14,166 (+5,497 sqm land)Jan-22

Gaw Capital

United Urban REIT, Japan Steel WorksSIZE (SQM)

POWER (MW)STAGE / EST. DELIVERY

Construction Update
OPERATORSITE@ TokyoCC332,000Colt
Equinix
GoogleIIJ
nextDCPrinceton Digital GroupTokyo Inzai 4
TY11 (Phase III)TY11 (Phase IV)
Kaguro Building
Shiroi
Chiba 3
Saitama

N/A
1,853
N/A
99,600N/A
12,91929,430N/A In Planning / 2024
3 (est) Under Construction / Q2 2022
N/A In Planning / Q4 2023
N/A Under Construction / Q3 2022
N/A Under Construction / Q2 2023
N/A Completed / Q2 2022
48.5 Under Construction / Q2 2024

ST Telemedia Global Data Centres
STACK Infrastructure
VantageInszai (Phase 1)
Inzai
HND1

N/A
23,00028,000N/A In Planning / Q2 2024
18 Under Construction / Q4 2023
8 Under Construction / Q2 2024

N/A In Planning / Q4 2023