Cambodia catches with ASEAN neighbours to become a data centre hub
As real estate market evolves and supply in the condo and serviced apartment segments outweigh demand, other segments in Cambodia are given an opportunity to capture the interest of both local and overseas investors and further raise the profile of the domestic market. One segment with potential for growth is data centre.
Several nations in the region, including Cambodia, are investing millions of dollars to improve their digital economies, to accommodate the digitalisation of business operations and economic activities that use digitised information as prime factors of business delivery.
More: Sea to summit: where can foreign investors invest in Cambodia?
Mr Kan Channmeta, Secretary of State at the Ministry of Posts and Telecommunications, recently commented positively about the construction of data centres in the kingdom, which must catch up to neighbours such as Singapore and Malaysia. He added that it is one of the priorities of the government to support the implementation of new data storage technologies.
According to CBRE, the 2017 Asia Pacific Investor Intentions Survey found that 5% of investors surveyed had already invested in data centres, and the region is expected to witness further market expansion in terms of investment.
Realising the emerging trend of this sector, the award for the Best Data Centre Development and Best Data Centre Architectural Design was given to IT Media Hub by Urban Data Centre Co., Ltd. at the 2019 PropertyGuru Cambodia Property Awards with a statement from a judging panel that “It is a symbol of Cambodia’s ambition to become a data centre hub in the future.”
See what took place at the glamorous Cambodia Property Awards gala dinner here.
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