Hong Kong Developer ITC Properties Signs MOU to Build 1GW Data Center Near Shanghai

Hong Kong-based real estate firm ITC Properties has signed a memorandum of cooperation to develop a massive 1-gigawatt data center campus at Yangkou Port, located about 145 kilometers north of Shanghai in Jiangsu province. The project underscores the growing demand for large-scale computing infrastructure to support AI and cloud services in China’s eastern economic corridor.

The non-binding agreement, inked with the Jiangsu Rudong Yangkou Port Economic Development Zone Management Committee, outlines a phased construction plan spanning five years. The first phase of the data center will deliver 200MW of capacity. The memorandum also states that the two parties will explore the feasibility of integrating renewable energy facilities to power the campus, reflecting a broader industry push toward sustainable data center operations.

ITC Properties, whose existing portfolio includes residential, commercial, and office properties across Hong Kong, Macau, mainland China, Canada, and the UK, has no prior experience in the data center sector. The company’s entry into the space highlights how traditional real estate developers are increasingly eyeing the high-growth digital infrastructure market. Separately, the Yangkou Port management committee recently signed another agreement with China Telecom to build and operate a 200MW data center at the same location, signaling the port’s emergence as a strategic hub for data center development in the region.

Industry observers note that the scale of the proposed 1GW campus aligns with the needs of hyperscale cloud providers and AI computing clusters, which require massive power and cooling capabilities. However, given the memorandum’s non-binding nature and ITC’s lack of data center expertise, the project’s realization will depend on securing financing, regulatory approvals, and potential technology partners. The development also highlights the increasing competition among Chinese coastal regions to attract data center investments amid rising land and energy constraints.