SAN FRANCISCO, Dec. 9, 2010 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a global wholesale datacenter provider, today announced that it closed the acquisition of a new 370,500 square foot data center facility located in Singapore's International Business Park in the Jurong East area.
"Many of the major Asia Pacific markets, including Singapore, do not have a ready supply of wholesale datacenter facilities to meet the demand from multinational companies with operations in the region," said Michael Foust, Chief Executive Officer of Digital Realty Trust. "The acquisition of this nearly complete datacenter development project is Digital Realty Trust's first step in meeting pent-up customer demand in the region. We plan to invest up to an additional SGD50.0 million of development capex in 2011, subject to customer demand, and expect the facility to be ready for occupancy beginning in the second quarter of 2011," added Mr. Foust.
The seven-story datacenter development project delivers up to 30 Mega Watts of 2N UPS capacity and a design that enables it to support both dedicated and shared customer environments. Located at 29A International Business Park on the western portion of the island, the building offers over 4.5 Mega Watts of IT load on each of its six (6) data center floors with the entire site supported by an N+2 continuous cooling architecture. Each floor can serve as a single dedicated customer data center or support multiple customers in Digital Realty Trust's Turn-Key Datacenters® for immediate customer deployment.
"The site represents the first enterprise-quality, wholesale data center facility in Singapore, where our customers will experience the same high degree of service and support as they do in our North American and European facilities," said Kris Kumar, Digital Realty Trust's Regional Head of Asia Pacific.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. enables customers to deliver critical business applications by providing flexible, reliable and cost effective datacenter facilities. Digital Realty Trust's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 96 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 16.8 million square feet as of December 9, 2010, including 2.3 million square feet of space held for redevelopment. Digital Realty Trust's portfolio is located in 28 markets throughout Europe, North America and Singapore. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.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 expected investment of development capex in the 29A International Business Park datacenter in 2011, when the facility will be ready for customer occupancy, and supply and demand in the major Asia Pacific markets, including Singapore. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in 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; increased interest rates and operating costs; our failure to repay debt when due 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 operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and space held for redevelopment; 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; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and 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 for the year ended December 31, 2009 and the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2010, June 30, 2010 and September 30, 2010. 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.
For Additional Information:
A. William Stein
Pamela A. Matthews
Chief Financial Officer and
Director of Investor Relations
Regional Head Asia Pacific &
Chief Investment Officer
Digital Realty Trust
VP Corporate Development
Digital Realty Trust
Digital Realty Trust
+65 6597 7088
SOURCE Digital Realty Trust, Inc.