A fund managed by a Keppel Capital unit has acquired a freehold site to develop a data centre in Sydney.
Keppel Capital is the asset management arm of the Keppel group.
The centre, Keppel DC Sydney 1, will be adjacent to Gore Hill Data Centre, which is part of Keppel DC Reit's portfolio.
Construction will take place over three phases with the initial fit-out slated to be completed in early 2021, Keppel Corp yesterday.
The data centre will have a gross floor area of about 57,000 sq ft (5,295 sq m).
Keppel Data Centres will be the project manager for the construction and responsible for its operations, Keppel Corp said.
The facility manager will be iseek-KDC Services, a 60:40 joint venture between Keppel Data Centres and Australia partner iseek.
iseek-KDC Services has been providing such services to the Gore Hill centre since 2012.
Keppel Data Centres chief executive Wong Wai Meng said: "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."
Keppel Corp shares closed down 1.64 per cent to $6 yesterday.