Chinese data center company ZDATA Technologies Co., Ltd is said to be aiming for private debt of about US$ 500 million to fund its data center project in Johor, Malaysia, according to Bloomberg, quoting people familiar with the matter. The company is said to be seeking a loan tenure of about two to three years, said the people. Discussions are still ongoing and details might change, they added.
ZDATA had in February broken ground at its GP3 hyperscale data center campus in Gelang Patah, Johor.
It had in October 2024 purchased 38.53 acres of freehold land in Gelang Patah, Johor, for a cash consideration of RM 240 million from Tropicana Corporation Berhad, through the companies’ respective subsidiaries, according to a statement from Tropicana Corp, a Malaysian developer.
In China, ZDATA is currently operating and planning to construct over 30 green data centers in areas such as Beijing, Zhangjiakou, Langfang, Tianjin, Ulanqab, Datong Yanggao, Shaoguan, and Shaoyang with 2GW in operation and under construction, according to its website. The planned total IT load is expected to reach 5GW. Its major clients include JD.com, ByteDance, Alibaba Cloud, Tencent, and Huawei.
In recent months, there has been a growing number of similar deals across the region fuelled by increasing demand for digital infrastructure to support AI and cloud computing.
Real estate consultant Cushman & Wakefield had in March estimated that US$ 116 billion would be needed to build out Asia’s data center pipeline in the next five to seven years.
ZDATA did not immediately respond to press requests for comment.
