EdgeProp Online - Tropicana inks another data centre land deal worthRM240mil in Johor
PETALING JAYA (Oct 9): Tropicana Firstwide Sdn Bhd, a wholly-owned subsidiary of Tropicana Corp Bhd, today announced the sale and purchase agreement with ComputilityTechnology (Malaysia) Sdn Bhd (CTMSB) for the sale of 38.527 acres of freehold land fora cash consideration of RM240 million in Gelang Patah, Johor.
CTMSB is principally involved in the provision of infrastructure for hosting, data processing services and related activities.
CTMSB is wholly-owned by ZData Cloud Technology Pte Ltd, which in turn is an indirect wholly-owned subsidiary of ZData Technologies Co Ltd, a leading provider of cloud network convergence and digitised IT infrastructure services company, with its headquarters in Beijing.
CTMSB plans to use the land to establish its regional data centre hub in Johor.
“Johor is rapidly emerging as a pivotal digital infrastructure hub in Southeast Asia, with high-value investments in hyper-scale data centres fuelling the growth of technology-related industries and economic opportunities for the local community. In the last two years, Johor has attracted more than 50 data centres owing to the state’s strong push toward the digital economy, enabled by robust government policies, as well as good connectivity and infrastructure,” stated Tropicana in a media release.
“In August, we signed a RM383 million land deal with global IT service provider – NTTData Group for an expansive 68.457 acres of land in Gelang Patah, Johor. Today we sealed another data centre land deal with CTMSB. With Tropicana’s strong presence and sizeable land bank in Johor, we play an effective role by offering strategic lands with good infrastructure facilities such as electricity, water and accessibility.
“The land sale also reflects our capability to meet stringent data centre land requirements backed by our development expertise and proven track record in project delivery.
“We will continue to support Malaysia’s vision to become a global destination for data centers. These land transactions will enhance the group’s cash flow and strengthen its financial position,” it added.
Tropicana said that it “welcomes more data centre operators to partner with us. We have over 728 acres of premium landbank in Johor and will continue to build sustainable townships as well as look for strategic partners to jointly develop the land parcels.”
