Singapore-based CapitaLand is boosting its investments in its India datacenter business within months of foray into the country as it sees massive demand and growth opportunities here.
CEO of the Trustee-Manager of Ascendas India Trust Sanjeev Dasgupta, stated that the company is looking at investing $1.5- $2 billion over the next 5-6 years in India with plans to expand into all 5-6 major metros in the country.
He further added that CapitaLand, which has been a real estate firm, doesn’t want to stick to just land acquisition in India and would rather act as a full-fledged data center operator in the country.
“Right from sales and marketing to business development to design and operations and management, we’ve created all colocation and operating capabilities in India. We are rapidly scaling up the team here. India will be a significant demand driver in the future. A large amount of India datacenter demand is still posted overseas. With data localization rules coming into place, this trend is already reversing. We are seeing massive demand from the enterprise segment, retail sector and BFSI. However, about 60-70% of our demand comes from global hyperscalers,” Dasgupta added.
The Indian data center market would require $3.7 billion over the next three years to meet the industry requirement for six million sq ft of development. The report highlights that in the last year, the Indian data center industry saw a record 102 MW absorption, the second-highest compared to key markets in Europe and the Americas.
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