If closed, the deal will mark a Korean real estate firm’s first development and sale of a domestic data center.“We see rising demand for data centers as they are the core infrastructure assets for growth of generative artificial intelligence and cloud services and upward trend in outsourcing,” said Macquarie Korea Asset Management Co.(MKAM) Representative Director Suh Boum Sik.“We forecast growing demand for Hanam IDC from corporate clients as the asset is located in the Seoul metropolitan area, where stable communication networks are available and securing additional water sources is challenged,” Suh added.
Macquarie Korea Infrastructure Fund (MKIF) has signed an agreement to buy a 40-megawatt (MW) data center from Seoul-based IGIS Asset Management Co.for 734 billion won ($538.4 million), the South Korean infrastructure arm of Macquarie Group said last Friday.
More data center deals in Korea are expected over the next few years IGIS, Koramco Asset Management Co., Samsung SRA Asset Management Co., Actis and Pacific Investment Management Co.are slated to put their digital infrastructure assets on the market.
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