Real estate group Lendlease, has just announced its first data center development in Japan under the Lendlease Data Centre Partners (LLDCP). The new facility is estimated to have a gross value of US$600 million upon completion of all phases.

“The demand for data centers in the Asia Pacific is set to grow exponentially, with internet-related services usage soaring due to the pandemic. We are excited to launch our first data center development under Lendlease Data Centre Partners,” said Andrew Gauci, Managing Director of Japan & Head of Telecoms and Data Infrastructure Lendlease Asia.

“This project is of significant scale in a sector of growing importance in the digital economy, leveraging our more than 20 years’ experience in the local communications and data infrastructure space, as well as Lendlease’s broader presence in Japan for over 30 years.”

The facility is sited on approximately 33,000 square meter of land located in Greater Tokyo. Furthermore, half of the site is said to have been pre-leased with the phased development planned to deliver more than 60,000 square meter of gross floor area.

“This partnership is an exemplar of our updated strategy in action, leveraging our competitive edge and creating value with our partners. With our end-to-end integrated capabilities, we look forward to building on this to explore further investments in the future,” Justin Gabbani, Chief Executive Officer Lendlease Asia.

“This further cements our global leadership in providing best-in-class real estate solutions. Moreover, this also marks a significant milestone for the Group, adding to its global development pipeline alongside five other new urbanisation projects globally.”

As announced, 20 per cent of LLDCP is funded by Lendlease and 80 per cent by a global institutional investor with a mandate to cover Australia, China, Japan, Malaysia and Singapore. In addition, the construction of the Japan project is to commence later this year with the initial phase to be completed by early 2024.