Thursday, October 19, 2017

MIT goes global with data centre investments

Australia, Hong Kong, Japan, France and the US in line for investment.

REIT Mapletree Industrial Trust (MIT) has expanded its investment mandate which will see the company invest on data centres outside Singapore.

The company has reportedly named a number of countries where it plans to expand its overseas properties.

The regions include Australia, Hong Kong, Japan, France and the US. The new investment strategy will be effective from October 26, the company said in an announcement to unitholders.

The trust said the main drivers for investing overseas are in line with the overall trends in the data centre industry including growing data creation and storage, proliferation of IoT, adoption of cloud services by businesses and consumers, and the increasing compliance and regulatory requirements on data security.

The REIt said in that announcement: “The expansion of investment strategy builds on MIT’s track record of developing data centres in Singapore.

“This demonstrates the Manager’s focus on growing the hi-tech buildings segment through extending its foothold in the fast-growing global data centre segment.”

MIT’s portfolio today is valued at S$3.77bn and comprises 86 properties, with total assets under management topping S$39.5bn.

Of the 86 building, ten correspond to high-tech buildings which include four data centre facilities.

The four data centres amount to 6.5% of the company’s overall valuation.