Hong Kong’s biggest and only piece of land created for development into a data centre sold for around$697m(HK$5.45bn)to Sunevision Holdings,with the amount labelled as‘higher than expected’.
The Company has obtained written approval of the Acquisition from Sunco,which holds 1,674,427,500 shares(representing approximately 72.00%of the entire issued share capital of the Company).
To the best of the Directors’knowledge and information,no Shareholder would be required to abstain from voting if the Company were to convene a general meeting for the approval of the acquisition.
John Siu,managing director of Cushman&Wakefield said:“Hong Kong has been lagging behind Singapore as we do not have sufficient land earmarked for data centres.
"With this large scale development,global and regional data centre operators will definitely set up their facilities in Hong Kong.”
He added that multinational corporations will also consider setting up their headquarters in Hong Kong over rivals once they provide an abundant supply of data centres for the storage of their servers.
Siu also said that Hong Kong Science and Technology Parks Corporation has stopped granting land in the three industrial estates for data centre development.
The Land Premium will be funded by the Group’s internal resources and external resources,including unsecured loans from the SHKP Group.
The principal activities of the group are the provision of data centre,facilities management and value-added services,installation and maintenance services and the renting of investment properties.
The Group has extensive experience in operating data centres and is one of the major providers of carrier-neutral data centre services in Hong Kong.
The 295,405 square foot site at Wan Po Road Area 85 in Tseung Kwan O New Town Hong Kong saw nine bidders interested when the tender was closed on Friday.With a plot ratio of 4.5 times,the site will house a structure with an area of 1.21 million sq ft.
