Wed Sep 25 04:44:26 UTC 2024: ## Mindspace REIT to Build Three Data Centers for Princeton Digital Group in Mumbai

Mindspace Business Parks REIT has announced a partnership with Princeton Digital Group (PDG) to build three new data centers in Mumbai. These data centers will be located on the REIT’s 50-acre campus in Airoli, further strengthening its existing portfolio of data center facilities.

This expansion marks a significant milestone for both companies. The three new buildings, spanning 15 acres, will add 10 lakh square feet to the REIT’s current data center portfolio, bringing the total to 16.5 lakh square feet across five buildings. The project will also see a combined IT load of 150 MW.

Ramesh Nair, CEO of Mindspace REIT, highlighted the strategic benefits of this partnership, stating that it aligns with the company’s commitment to diversifying its portfolio and tapping into high-growth sectors like data centers. “Data centers offer stable and long-term revenue streams, future-proof our portfolio, and help diversify income sources,” he added.

PDG, which is backed by notable investors like Warburg Pincus, Ontario Teachers’ Pension Plan, and Mubadla, is a leading data center operator in Asia with a presence across six countries. The company’s decision to establish its data center operations in Mumbai underscores the city’s growing importance as a digital hub in India.

The agreement includes Mindspace REIT providing PDG with a full range of turnkey services, including power infrastructure. This partnership demonstrates the increasing importance of data centers in today’s digital economy and showcases the ongoing growth and development of the Mumbai real estate market.

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