Digital Realty Opens Expansion In Dublin, Bringing Total Investment In Ireland To Over €200 Million
Five-megawatt expansion on Profile Park campus opens as nearly half of Irish IT decision-makers remain optimistic on tech sector
LONDON, May 9, 2019 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of data centre, colocation and interconnection solutions, announced today the official opening of the second data centre on its Profile Park campus in Dublin, Ireland. The five-megawatt expansion provides new and existing customers on the Profile Park campus with additional runway for growth in the capacity-constrained Irish market. The new facility is located 30 minutes from Dublin's city centre, and provides maximum product flexibility with state-of-the-art power, cooling, connectivity, security and system redundancy.
The expansion of the Profile Park campus brings Digital Realty's total investment in Ireland to over €200 million, underscoring the company's commitment to the country and confidence in the long-term local demand. Recent research conducted by Censuswide on behalf of Digital Realty found that nearly half (47%) of Irish IT decision-makers are optimistic about the growth of the tech sector in Ireland. The survey of 250 senior Irish IT decision-makers revealed the areas they expect to have the biggest impact over the next five years include Brexit (56%), GDPR (36%), and the rollout of 5G (23%).
IT decision-makers do foresee barriers to market growth, however, including bonus taxation (40%), shortage of affordable housing (36%), and a lack of available funding for tech start-ups (32%). Nearly half (46%) of Irish IT decision-makers surveyed see Ireland as a safe harbour for data, with Ireland quickly becoming a leading digital hub for Europe due to its skilled workforce (38%), competitive corporate tax regime (37%), and GDPR (30%).
"We are pleased to support our customers' growth with the expansion of our Profile Park campus," said Valerie Walsh, Digital Realty Senior Vice President, Portfolio Management. "Our continued investment in Ireland demonstrates our confidence in the future growth prospects for the technology sector in the region. Our research shows that tech sector decision-makers share this optimism and expect the country will continue to flourish in the years to come."
About Digital Realty
Digital Realty supports the data centre, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centres located throughout North America, Europe, Asia, Australia and South America. 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 Additional Information
Andrew P. Power
Chief Financial Officer
Digital Realty
(415) 738-6500
Media Inquiries
Sue Jones
Digital Realty
+44 203 873 0145
[email protected]
Paul Crouch
Senior Consultant
Teneo
+44 7795 226361
[email protected]
Safe Harbour 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 Irish data centres, the survey we conducted and our expectations for Ireland and Europe. These risks and uncertainties include, among others, the following: reduced demand for data centres or decreases in information technology spending; decreased rental rates, increased operating costs or increased vacancy rates; increased competition or available supply of data centre space; the suitability of our data centres and data centre infrastructure, delays or disruptions in connectivity or availability of power, or failures or breaches of our physical and information security infrastructure or services; our dependence upon significant customers, bankruptcy or insolvency of a major customer or a significant number of smaller customers, or defaults on or non-renewal of leases by customers; breaches of our obligations or restrictions under our contracts with our customers; our inability to successfully develop and lease new properties and development space, and delays or unexpected costs in development of properties; the impact of current global and local economic, credit and market conditions; our inability to retain data centre space that we lease or sublease from third parties; difficulty acquiring or operating properties in foreign jurisdictions; our failure to realize the intended benefits from, or disruptions to our plans and operations or unknown or contingent liabilities related to, our recent acquisitions; our failure to successfully integrate and operate acquired or developed properties or businesses; difficulties in identifying properties to acquire and completing acquisitions; risks related to joint venture investments, including as a result of our lack of control of such investments; 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; our failure to obtain necessary debt and equity financing, and our dependence on external sources of capital; financial market fluctuations and changes in foreign currency exchange rates; 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 and goodwill and other intangible asset impairment charges; our inability to manage our growth effectively; losses in excess of our insurance coverage; environmental liabilities and risks related to natural disasters; our inability to comply with rules and regulations applicable to our company; our failure to maintain our status as a REIT for federal income tax purposes; our operating partnership's failure to qualify as a partnership for federal income tax purposes; restrictions on our ability to engage in certain business activities; and changes in local, state, federal and international laws and regulations, including related to taxation, 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 for the year ended December 31, 2018. 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
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