SAN FRANCISCO, May 20, 2015 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center and colocation solutions, announced today its second data center facility in Singapore. Depending upon ultimate customer configuration, density, and scope, Digital Realty expects to invest upwards of S$200 million in new data center infrastructure, underscoring the company's commitment to Singapore's Smart Nation plan, which encourages the sustainable supply of data centers to ensure sufficient future capacity. The new facility also addresses a growing demand for agile, open, and connected data center solutions from cloud and content providers and financial services companies across the region and worldwide.
The data center will span approximately 177,000 square feet and is a redevelopment of an existing printing paper storage facility. Digital Realty has entered into a purchase agreement with the seller and has obtained Jurong Town Corporation's (JTC) consent for lease assignment. Legal completion is expected to occur in early July 2015, although power and fiber works are already underway.
Digital Realty has extensive experience in converting non-technical buildings into connectivity-rich data centers, which helps it bring data centers to market faster. Located in Singapore's northeast, the new 13.2 MW data center will connect via dark fiber to Digital Realty's first data center, in the west of the city-state, which is home to global Tier 1 carriers, the Singapore Internet Exchange, and the Digital CloudConnect network. Together, these facilities offer geographic diversification and increased options for diverse IT workload deployments in Singapore. The current construction program provides for an estimated late 2015 delivery of the powered base building along with up to 3.2 MW of data center space.
"Our first data center in Singapore marked Digital Realty's entrance into one of Asia Pacific's rapid expansion markets and enabled our global clients to enter the city-state and serve other regional markets with a trusted partner," said Daryl Dunbar, Managing Director Asia Pacific at Digital Realty. "Our new data center expansion supports Singapore's efforts to become a regional data center hub and delivers the openness and agility that our global clients continue to want from us, as well as the broader data center industry, to accelerate their growth.
"With the growing demand for premium data center services, it is imperative for leading data center providers such as Digital Realty to continue raising the bar to strengthen Singapore's position as a leading data management and connectivity hub. Aligned to our vision for Singapore to become the digital innovation capital of Asia, Digital Realty's expansion will enable both local and international companies to build new digital capabilities and scale critical digital services in a cost effective and efficient manner," said Kiren Kumar, Director of Information Communications and Media, Singapore Economic Development Board (EDB).
Other data center highlights:
- Compliant with the Monetary Authority of Singapore's Threat and Vulnerability Risk Assessment Guidelines
- Target Green Mark Platinum certification (new building category)
- Access to over 50 cloud service providers globally via Digital CloudConnect and to over 1,000 network providers
Digital Realty's first data center in Singapore became fully operational in 2011 and was recently awarded the Green Mark Platinum certification under the category of 'existing colocation data center.' At 370,500 square feet, it is the largest of the company's data centers in the Asia Pacific region.
About Digital Realty
Digital Realty Trust, Inc. supports the data center and colocation strategies of more than 600 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia, and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products. For more information about data center solutions from Digital Realty, visit www.digitalrealty.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to our data centers in Singapore and our operations in the Asia Pacific region. These risks and uncertainties include, among others, the following: the impact of current global economic, credit and market conditions; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or developed properties or businesses; the suitability of our properties and data center infrastructure, delays or disruptions in connectivity, failure of our physical infrastructure or services or availability of power; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development of properties; decreased rental rates, increased operating costs or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and development space; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, as amended, for the year ended December 31, 2014 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2015. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Digital Realty Trust, Inc.