Singapore—Equinix, a company dealing with data centers and interconnection has partnered with Mapletree Industrial Trust, an entity that specializes in industrial real estate properties, in order to develop a new data center facility under its International Business Exchange brand in Singapore. Built to help expand Platform Equinix, the new data center will benefit from a blooming tech market in Singapore, focused on the financial and cloud services sectors. The new Singapore IBX will be developed in the immediate vicinity of another facility owned by Equinix, namely the SG1 data center, and will be directly linked with it via a dedicated fiber network.
The development process should be finalized by Q3 of 2014, when the new center will open its doors, and debut a facility that will comply to the newly modified requirements for financial customers as per the guidelines issued by the Monetary Authority of Singapore during the summer 2012. The new IBX will have a gross floor area of 385,000 square feet, divided into 5,000 cabinets. The process will take place in a number of phases, ensuring Equinix’s expansion on the growing local market.
The diminutive state has become a main tech hub for Southeast Asia in recent years and is now consolidating its position as one of the main spots for cloud services. Clement Goh, managing director of Equinix South Asia mentioned in a press release that the company “is committed to catering to the increasing demand for data center and interconnection services in Singapore. Our new data center will help our financial and cloud customers drive new business and collaboration opportunities.”
The company that Equinix has chosen to partner up with, Mapletree Industrial Trust, is a REIT focused on Singapore’s industrial assets. The entity currently has stakes in 81 properties in the area totaling approximately 19 million square feet of space, with an estimated value of around $2.7 billion.