Equinix Signs Agreement for New Data Center in Singapore
Agreement signed with Mapletree Industrial Trust to develop new data center to meet security requirements for financial customers in Singapore
REDWOOD CITY, Calif. & SINGAPORE--(BUSINESS WIRE)-- 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.
About Mapletree Industrial Trust
Mapletree Industrial Trust is a Singapore-focused Real Estate Investment Trust that invests in a diversified portfolio of income-producing real estate used primarily for industrial purposes, whether wholly or partially, in Singapore, as well as real estate-related assets.
MIT's portfolio of 81 properties in Singapore is valued at approximately S$2.7 billion as at 31 March 2012 and has a total gross floor area of approximately 1.8 million square metres. MIT has a large and diversified tenant base of more than 2,000 multi-national companies and local enterprises. MIT is managed by Mapletree Industrial Trust Management Ltd. and sponsored by Mapletree Investments Pte Ltd. www.mapletreeindustrialtrust.com.
About Mapletree Industrial Trust Management Ltd.
Mapletree Industrial Trust Management Ltd. is the Manager of MIT. It manages MIT's assets and liabilities for the benefit of the Unitholders, sets MIT's strategic directions and provides recommendations on the acquisition, divestment, development and/or enhancement of MIT's assets in accordance with MIT's investment strategy. Employing active asset management, acquisition growth, capital and risk management, and selective development strategies, MITM seeks to generate returns for Unitholders by providing regular and stable distributions, as well as through achieving long-term growth in distribution per unit and net asset value per unit. Mapletree Industrial Trust Management Ltd. is a wholly-owned subsidiary of Mapletree Investments Pte Ltd.
Equinix, Inc. (NAS: EQIX) , connects more than 4,000 companies directly to their customers and partners inside the world's most networked data centers. Today, businesses leverage the Equinix interconnection platform in 31 strategic markets across the Americas, EMEA and Asia-Pacific. www.equinix.com.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and developing IBX centers, including risks related to construction, project management and the delivery of services; unanticipated costs or difficulties relating to the integration of companies acquired or will acquire into Equinix; a failure by Equinix to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in the entities' filings with the Securities and Exchange Commission and the Singapore Exchange Securities Trading Limited respectively. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Both entities do not assume any obligation to update the forward-looking information contained in this press release.
Equinix Media Contact (Corporate)
Melissa Neumann, 650-598-6098
Equinix Media Contact (Americas)
GolinHarris for Equinix
Liam Rose, 415-318-4380
Equinix Media Contact (Asia Pacific)
Lorraine Little-Bigelow, +852 2970 7742
Equinix Media Contact (Singapore):
LEWIS Public Relations
Gina Daryanani / Laurent Decosse, +65 6571 9140
Equinix Investor Relations Contact
Katrina Rymill, +1 650-598-6583
Mapletree Industrial Trust Investor Relations & Media Contact
Melissa Tan, +65 6377 6113
KEYWORDS: United States Asia Pacific North America California Singapore
The article Equinix Signs Agreement for New Data Center in Singapore originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.