Singapore's real estate asset manager Capitaland Investment (CLI) said on Tuesday it will invest more than US$700 million to develop its first data centre in Japan.
The Temasek-backed firm has already secured a land parcel in Osaka, Japan, along with 50 megawatts (MW) of power capacity for the project, it said.
CLI has added 23 data centres to its portfolio since 2021, reflecting the firm's increasing attempts to cater to the booming demand for digital infrastructure required for artificial intelligence-based services.
"With the rapid adoption of digitalisation and AI globally and especially in Asia, data centre demand is expected to enjoy double-digit growth and outstrip new supply," said Michelle Lee, CLI's managing director of private funds (data centre).
Capitaland Group currently owns 27 data centres in Asia and Europe with about 800 MW of power.
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