Agreement signed with Mapletree Industrial Trust to develop new data center to meet security requirements for financial customers in Singapore
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, and Mapletree Industrial Trust(SGX: ME8U), a leading industrial real estate investment trust listed in Singapore, today announced plans to build Equinix’s third International Business Exchange™ (IBX®) data center in Singapore. The new data center will further extend Platform Equinix™ to meet strong demand for premium interconnection and data center services in Singapore from financial and cloud companies.
The new Singapore IBX will be located in close proximity to Equinix’s existing SG1 data center at one-north. Both data centers will be interconnected through a dedicated fiber network, allowing customers in SG1 to expand their business within the Equinix platform. The new IBX will also meet the changing security requirements for financial customers including compliance with guidelines set by the Monetary Authority of Singapore in July 2012.
Scheduled to launch in the second half of 2014, the new IBX data center will provide approximately 385,000 square feet of gross floor area and 5,000 cabinets over multiple phases, significantly expanding Equinix’s presence in Singapore to better meet customer demand.
“Singapore is growing in importance as a cloud hub for the region. Global and multinational companies have seen Singapore as a gateway for diverse connectivity to the other Asia Pacific markets,” said Clement Goh, managing director of Equinix South Asia. “Equinix is committed to catering to the increasing demand for data center and interconnection services in Singapore. Our new data center will help our financial and cloud customers drive new business and collaboration opportunities, improve performance and reduce operational cost with low latency and high proximity.”
“We are pleased to work with Equinix as it achieves another milestone with the development of its third IBX data center in Singapore. The commitment from Equinix demonstrates its confidence in MIT’s development capabilities in customizing high specification industrial facilities. This collaboration allows Equinix to focus on its core business while MIT manages the capital expenditure and development process,” said Tham Kuo Wei, chief executive officer of Mapletree Industrial Trust Management Ltd., the manager of MIT.
This is MIT’s second data center development and the second build-to-suit project secured in the financial year ending 31 March 2013. The new Equinix IBX data center will be a seven-story high specification building situated within one-north, a 200-hectare development by JTC Corporation designed to host a cluster of world-class research facilities and business park space to support growth in the biomedical sciences, infocomm technology, media, physical sciences and engineering industries. Located in the southwestern region of Singapore, the property can be easily accessed via major expressways and is well connected by the public transportation network.