CapitaLand’s Ascendas India Trust has acquired a site in India and will invest an estimated INR12bn (€136m) to develop and operate phase one of its first data centre campus there.

The 6.6-acre greenfield site will be developed in phases into a fully-fitted data centre campus with a total potential built-up area of 575,000sqft and 90MW of power.

It will be one of the largest data centre campuses in Airoli, a growing data centre hub in Navi Mumbai.

Sanjeev Dasgupta, chief executive officer of the trustee-manager of Ascendas India Trust, said the large market size combined with an increasing trend towards data localisation validated the trust’s market entry strategy.

He Jihong, chief executive officer, data centres, and chief corporate strategy officer, CapitaLand Group, said: “We are stepping up our growth in data centres and accelerating expansion of the group’s portfolio into new economy asset classes.”

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