The two companies have formed a joint venture and envisage a total investment of over 7 billion baht ($219.24 million) in the project.
The data centre will span two buildings in Ramkhamhaeng, Bangkok. The first building with a gross floor area of 30,000 square metres is expected to be completed in 2021.
“This collaboration will broaden FPT’s ability to offer comprehensive services from industrial buildings to data centre services to our customers,” said Frasers Property president Sopon Racharaksa. “We expect a strong demand from banking and financial institutions, e-commerce players, global cloud operators, MNC’s and local corporates.”
According to Thailand’s Board of Investment, the digital economy is expected to contribute up to a quarter of the country’s gross domestic product (GDP) by 2027. Meanwhile, the data centre market in ASEAN is projected to grow from $1.9 billion in 2017 to $5.4 billion in 2024 at a compound annual growth rate (CAGR) of 16.1 per cent.
ST Telemedia Global Data Centres currently operates 80 data centres across Singapore, China, India, Thailand and the United Kingdom.