Mapletree Industrial Trust (MIT) has secured a new build-to-suit (BTS) data centre in the west region of Singapore for an established data centre operator for some S$60 million.
The six-storey purpose-built data centre with gross floor area of about 242,000 square feet will be fully leased to the client for an initial lease term of more than 10 years with staggered rental escalations and renewal options, said MIT's manager Mapletree Industrial Trust Management Ltd in an announcement on Sunday.
The proposed BTS project, which marks MIT's third data centre development, is expected to be completed in the second half of 2018.
The proposed site in Singapore's west region is well-connected to the Ayer Rajah Expressway and is situated on a land area of approximately 96,800 sq ft.
The site is located in a specialised industrial park for data centres with ready-built infrastructure catered to support multinational companies and enterprises and has been allocated by JTC Corp and is zoned for Business 2 use with a land tenure of 30 years.