Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 159

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4
Chunk 159
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 of the building generally for periods of 15 to 20 years, which is the longest permitted lease period under PRC law. However, in the case of the build-operate-transfer projects which we have undertaken to date, where the owner of the building shell is our customer, the lease term is usually ten years.

Our owned facilities, and leased facilities which include B-O-T projects, represented approximately 42.9% and 57.1% respectively by aggregate net floor area of our self-developed data centers in service and under construction as of December 31, 2024.

As of December 31, 2024, 39.4% of our self-developed area in service was in data center buildings which we own and 60.6% was in data center buildings which we lease.

As of December 31, 2024, 63.9% of our self-developed area under construction was in data center buildings which we own and 36.1% was in data center buildings which we lease.

For self-developed data center buildings leased from third parties, we have entered into long-term leases with the owners of the buildings generally for periods of 15 to 20 years, which is the longest permitted lease period under PRC law.

B-O-T Data Centers( including B-O-T Joint Venture Data Centers)

As of December 31, 2024, we had 55,722 sqm net floor area relating to 12 B-O-T data centers in service, 100% of which were committed, and 3,440 sqm net floor area relating to second phase of one existing B-O-T data center under construction, 100% of which was pre-committed. Apart from HL1 Phase 1 and UL1, two B-O-T joint venture data centers of which we currently own 51% and GIC owns 49%, we still hold 100% of the equity interests in the project companies holding all the other B-O-T data centers as of December 31, 2024.

In September 2021, we entered into a new master joint venture investment agreement with GIC, pursuant to which the two parties will form joint ventures for the investment and development of hyperscale B-O-T data centers for several customers. According to the new agreement, we will own 51% equity interests in the joint venture asset companies and GIC will own 49%. We will continue to provide management and operation services to the joint ventures and earn recurring service fees. As