26 STRENGTH IN UNITY NEW GROWTH PILLAR: DATA CENTRES Focusing on the New Economy sector, the Group prioritises data centres as a critical strategic pillar. With data centres presently constituting 24% of ESR’s development starts and 13% of the development work-in-progress workbook, the Group is strategically positioned to expand its data centre presence throughout the APAC region and thereby capturing the increasing demand for data. In FY2023, ESR continued to execute on its data centre strategy, upsizing the ESR DC Fund 1 to a total capitalisation of US$1.35 billion, making it the largest dedicated data centre investment vehicle in APAC. Originating from eight projects comprising 560 MW, construction has begun on four key projects, Cosmosquare OS1 Data Centre in Japan, Bupyeong KR1 Data Centre in Seoul, Keihanna OS4 Data Centre in Osaka, and the ESR HK1 Data Centre in Hong Kong, with Rabale MU1 Data Centre in Mumbai scheduled for construction in 2024. Looking ahead, ESR aims to deliver on a 1 GW pipeline across gateway cities in APAC such as Tokyo, Osaka, Shanghai, Bejing, Seoul and Sydney with capabilities to undertake various development models ranging from powered shell to joint ventures with operators and hyperscalers. ESR’s Competitive Edge in Data Centres Multi-model Operating Platform Maximises flexibility and outcome and captures growth, scale and diversification Scale Focused in-country dedicated teams supported by the strength of one of Asia’s largest Real Asset Manager Design and Efficiency Working with local design leaders to produce efficient, locality friendly solutions to support partners and end customer needs Innovation Designing and building for the next wave of AI backed growth and regional Cloud expansion Leading ESG Strategy Industry leading, environmentally aware delivering the best solutions for customers and the planet Cosmosquare OS1 Data Centre, Osaka, Japan (Ready for Service May 2025)
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