SUNeVision Group entered into a principal service agreement for a large-scale single-user data center project
SUNeVision Group (01686.HK) announced that iAdvantage, a subsidiary of the company, has entered into a main service agreement with a major hyper-scale customer on July 7, 2021. According to this, iAdvantage was appointed to set up a single user with a total 10MW power capacity to promote its business development and strengthen its Greater China hub operations.
The group will lease a warehouse building located in Fanling, New Territories, Hong Kong and owned by an affiliated company of the company's major shareholder (Sun Hung Kai Properties Development Co., Ltd.), and invest significant capital and resources to transform it to a data center. The group will deliver the project in phases, and it is expected that the first phase of the project will be delivered to the customer and put into service in 2022.
The group currently operates five data centers in Hong Kong, and is expected to launch a sixth data center (its site is in Tsuen Wan City Lot No. 428) and a seventh data center (its site is Tseung Kwan O City Lot No. 131) in 2022. The project will become the eighth data center.
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