PDG has started work on its first data centre in Mumbai
In today’s roundup of regional news headlines, Singapore’s Princeton Digital Group plans to open a 48 megawatt data centre in Navi Mumbai next year, and two residential properties go up for sale in the city-state as housing prices soar in the local market.
Princeton Digital Group Announces Mumbai Data Centre
Princeton Digital Group is building a 48 megawatt multi-storey data centre campus in Navi Mumbai. The greenfield campus will have two buildings and will be aimed at hyperscalers.
The campus consists of two adjacent multi-story buildings with six data floors, giving a total of 12 data halls, each with 4MW of power. The project is expected to be ready for service in 2022, according to the announcement from the Singapore-based APAC data centre developer. Read more>>
Residential Projects Near SG’s Somerset MRT on the Market for S$442M
Two residential properties in Singapore’s Devonshire Road — The Bayron, a condominium, and Devonshire Apartment, a serviced apartment tower — have been put up for sale by exclusive marketing agent CBRE.
The guide prices for the two developments, which are next to each other, are S$376 million ($279 million) for The Bayron and S$66 million for Devonshire Apartment. Both freehold properties have been zoned for residential use under the Urban Redevelopment Authority’s Master Plan 2019. Read more>>
Singapore’s Public Housing Prices Soar as Frenzy Grips Market
Million-dollar price tags on a record number of Singapore’s public housing sales are a sign that the city-state is joining the frenzy gripping property markets from Hong Kong to Toronto.
Twenty-three resold government-subsidised flats were purchased for at least S$1 million ($743,000) in February, a new monthly record, according to data from real estate portal SRX Property. Thirty-six sales in that price bracket were concluded in the first two months of the year, a 350 percent increase from a year earlier. Read more>>
China’s Runaway House Prices May Ease After Land Sale Remake
Home prices in China that have risen for 35 months in a row could ease following the newly adopted centralised land auction scheme across major cities in the country.
The move will prevent developers from going on a land buying binge because land will be sold only thrice a year under the new scheme, market observers said. Most of the heavily indebted and cash-strapped developers are likely to consider using their funds judiciously and this would eventually drive home prices down, they said. Read more>>
Mindspace Business Parks REIT Posts Profit of $19M in Q3 FY21
Mindspace Business Parks REIT has reported a net consolidated profit of INR 140 crore ($19 million) during the third quarter of fiscal 2021, the company said in a BSE filing. The company’s net consolidated income stood at INR 431.6 crore during the quarter.
The manager of the REIT declared a distribution of INR 283.5 crore or INR 4.78 per unit for the third quarter of fiscal 2021. The record date for the distribution is 18 February 2021, and payment of the distribution will be processed on or before 25 February 2021. Read more>>
SG Condo Resale Prices in Singapore Rise for Seventh Straight Month
Resale condominium prices were up 1 percent in February from January, climbing for the seventh straight month in Singapore.
Year-on-year, overall resale prices advanced 4.4 percent, flash figures from real estate portal SRX Property showed on Wednesday. Read more>>
Wheelock’s Grand Victoria Project Oversubscribed in Kowloon
About 1,600 checks were received for 269 units in the first two price lists of the Grand Victoria phase one in West Kowloon, an oversubscription of about five times.
The property in Cheung Sha Wan is being developed by Wheelock Properties, Sino Land, K Wah International, Shimao and SEA Holdings. Read more>>
Proptech in India Saw $551M in 2020 Investment
The proptech industry in India attracted over $551 million in 2020, surpassing the $549 million figure of the previous year, according to a report by online real estate portal Housing.com.
The report titled PropTech: The Future of Real Estate in India said investment in the segment grew marginally, though even marginal movement could be termed significant considering the unprecedented challenges the world faced during 2020. Read more>>
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