Lendlease to Build Data Centre in Tokyo in Japan
Sydney-headquartered builder-developer Lendlease announced its first data centre development in Japan under Lendlease Data Centre Partners. Located in Greater Tokyo, the facility is sited on approximately 33,000 square meters of land and will have more than 60,000 square meters of gross floor area, of which close to half has been pre-leased. Construction starts later this year with the initial phase set to be complete by early 2024. Lendlease put the gross development value of the project at more than US$600m.
The company said it will be one of the largest of its scale in country and will meet fast-rising demand for digital services amid the coronavirus pandemic. Demand for data centres has surged during the pandemic, with digitalisation emerging as a priority for businesses.
LLDCP is funded 20% by Lendlease and 80% by a global institutional investor. The fund’s mandate covers Australia, China, Japan, Malaysia and Singapore, and includes both completed assets and new development opportunities. Under the partnership, Lendlease undertakes development, construction, property and investment management.