STACK, a digital infrastructure provider and a leading data center company, teams up with ESR Group Limited, APAC’s largest real asset manager powered by the New Economy, to develop a 48MW data center site in Incheon, Korea.
Incheon, one of Seoul’s western suburbs, will receive a 48MW plant that STACK and ESR will jointly design and deliver. Construction on the single building will begin in Q1 2023, with the facility receiving power from KEPCO, and it will be ready for use by Q4 2024. The STACK brand will be used to run the facility.
The development is well-located and has reliable connection to power and the internet, providing scalability and dependability for increasing rack density and floor loading requirements.
The partners will build a facility that incorporates the newest environmentally friendly design and supports the highest building and PUE standards in the sector. Enterprise clients and hyperscalers will be able to address their changing needs in Korea and the larger APAC region through this data center.
According to Pithambar (Preet) Gona, STACK’s Chief Executive Officer in APAC, by establishing a scalable presence in established and developing Tier 1 data center markets, STACK has expanded into a fifth APAC market in the last 12 months, building on recent developments in Melbourne, Canberra, Perth, and Tokyo. This has improved their focus on their customers’ strategic requirements.
With their partnership with ESR, they have demonstrated their ability to collaborate with market-leading real asset managers and use their combined experience to the advantage of their clients.
Moreover, for Diarmid Massey, CEO of ESR Data Centres, ESR is ideally positioned to assist in the development of facilities across important hyperscale locations because of their strong regional competence and experience in Tier 1 data center markets. Additionally, by collaborating with STACK, they can take use of a first-rate global operational platform and cutting-edge financial solutions to focus on hyperscale client growth in important regions.
This accomplishment comes shortly after STACK’s entry into the APAC market was announced, along with the opening of its regional headquarters in Singapore, the construction of its first 36MW campus in Inzai, Japan, and its expansion into the Australian market with 124MW in Melbourne, Canberra, and Perth.
The strategic nature of ESR’s partnership with STACK, its earlier disclosure of data center land purchases in Japan and Hong Kong, as well as the most recent first closing of ESR DC Fund 1, a maiden fund with over $1 billion in equity commitments, all serve to further highlight ESR’s commitment to new economy investment and the creation of a variety of environmentally friendly and market-leading data center solutions regionally.
