SINGAPORE - The Alpha Data Centre Fund, managed by Keppel Capital's wholly owned unit Alpha Investment Partners, has acquired a 3,840 square metre plot of freehold land in Gore Hill Technology Park to develop a data centre in Sydney, Australia.
Keppel Capital is the asset management arm of the Keppel group.
The greenfield data centre, Keppel DC Sydney 1, will be located adjacent to Gore Hill Data Centre, an existing data centre in Keppel DC Reit's (real estate investment trust) portfolio.
Construction of the facility will take place over three phases with Phase I shell and core, as well as the initial fit-out slated to be completed by the first half of 2021, Keppel Corp said in a press statement on Monday (Aug 5).
When fully completed, the data centre will feature about 57,000 sq ft (5,295 sq m) of gross floor area (GFA).
Keppel Data Centres Holding (Keppel Data Centres) will be appointed project manager for the construction of the data centre and following its completion, be responsible for its operations, Keppel Corp said.
Meanwhile, iseek-KDC Services, a 60:40 joint venture between Keppel Data Centres and Australia partner iseek, will be appointed facility manager for the data centre.
iseek-KDC Services has been providing facility management services since 2012 to Keppel DC Reit's Gore Hill Data Centre.
Said Wong Wai Meng, CEO of Keppel Data Centres: "Our track record as a trusted data centre developer and operator has allowed us to deliver reliable solutions to a broad range of customers in our global portfolio.
"This latest data centre development builds on Keppel Data Centres' commitment to support our customers' expansion needs and to help them capitalise on opportunities offered by digitalisation and cloud adoption."
Added CEO of Alpha Investment Partners, Alvin Mah: "The Alpha DC Fund's collaboration with Keppel Data Centres on another quality data centre development reflects how different business units in the Keppel Group are working together to offer investors unique opportunities. By leveraging Keppel Data Centres' deep operational expertise, our newest data centre will be well-positioned to capture data centre demand and deliver optimal returns for our investors."
The above transaction is not expected to have a material impact on the net tangible assets, or earnings per share of Keppel Corp for the current financial year, the mainboard-listed company said.
Keppel Corp shares closed at $6.10 on Friday, down 3.2 per cent, or $0.20.