One of Asia’s largest logistics and real estate investors, Singapore-based GLP, announced it has broken ground on its 31-megawatt Tokyo West 1, also known as the “TKW1” data center in West Tokyo, Japan.
The three-story building which spreads across some 3,400 square meters, is expected to be ready for service by February 2025. It is in close proximity with some of the largest enterprises in IT and telecommunications with a rich network environment in Japan.
The project is part of GLP’s five-year plan to invest 1.5 trillion yen (US$ 10.4 billion) in building data centers in Japan’s biggest cities and support rising demand in e-commerce and other digital platforms.
The Japan data center market is forecasted to experience steady growth at a CAGR of 5.93% during the 2022-2028 period, largely focused on Tokyo and Osaka regions. This is why the Japanese government in May proposed a subsidy program to support the establishment of data centers in rural areas of Hokkaido and Kyushu.
Founded in 2009 as a logistics real estate investor, developer, and operator, GLP has expanded into areas such as investment management, data centers, and renewable energy. Last year, the company had reportedly filed for a U.S. initial public offering seeking to raise about US$ 2 billion.
