ESR Cayman Buys HK Property for Data Center
Posted on 05/07/2021
Hong Kong-based ESR Cayman purchased a property located in Kwai Chung, one of the major data center clusters in Hong Kong. ESR Cayman seeks to convert the property into a 40 MW data center. The building hopes to have a value of around US$ 675 million on completion.
“This is a major strategic move for ESR as it represents our first acquisition in Hong Kong and further establishes our data center franchise,” said Jeffrey Shen and Stuart Gibson, ESR co-founders and co-CEOs in a press release. “Hong Kong is an important data center market in the APAC region, with its low electricity costs, limited climate risks and established network capability. It is also one of the world’s top financial centers as well as the home to ESR’s headquarters. Entering the Hong Kong market is a key expansion strategy as we continue to build our integrated digital and logistics supply chain infrastructure platform to help fuel the new economy in APAC.”