Gaw Capital Partners and A3 Capital will jointly invest in data centres in Southeast Asia through a new JV platform. In a separate development, US real estate developer and fund manager Hines has set up an office in New Zealand.
Gaw Capital inks JV with A3 Capital to invest in data centres
Hong Kong-based Gaw Capital Partners has set up a joint venture with A3 Capital, a Singapore real estate investment firm, to invest in greenfield and underperforming data centres in key markets across Southeast Asia.
The JV will also launch the Infinaxis Data Centre platform to develop internet data centres across the region. The first investment of the vehicle is located in Cyberjaya, one of the largest hubs for internet data centres in Malaysia. The debut project consists of a few greenfield sites with a combined plot area of 12,490 square metres. The first infrastructure will have a capacity of 12 megawatts with the potential to double in the future while the second plot will be developed as an expansion site.
Indonesia and Singapore are also among the platform’s target destinations.
Hines opens New Zealand office
Hines, a US real estate developer and fund manager, has set up an office in New Zealand to expand its presence in the Asia Pacific, according to a company release. The new office marks the firm’s 30th operating country.
The New Zealand team, based in Auckland, will be led by James Molloy who joined the firm as director from Oyster Property Group, a local real estate fund manager this month. Reporting to Hines’ head of Australia and New Zealand David Warneford, Molloy will source new acquisitions, investments, and development opportunities in the country.
“We see compelling opportunities in New Zealand especially in the build-to-rent (BTR,) value-add office and logistics /industrial sectors, and its marketplace is a natural extension to what our teams are already doing in Australia,” said Ray Lawler, Chief Executive Officer, Asia Pacific of Hines.
