Hong Kong boasts robust development pipeline, data centre market on a steady rise
Cushman & Wakefield’s study showed that Hong Kong placed second in the Asia Pacific region and sixth in the world
According to research conducted by Arizton, the data centre market in Mainland China and Hong Kong was expected to reach USD35 billion by 2027, growing at a CAGR of 2.27 percent. This is following 2021’s market value of USD30.7 billion.
Hong Kong and Mainland China are among the top data center markets worldwide. This is all thanks to the proliferation of 5G, cloud adoption, investment in smart cities, and the adoption of advanced technologies such as AI, quantum computing, and blockchain.
These areas have drawn significant investment, and more data centers are planned for the projected period. Also, rising Internet penetration in these countries has boosted demand for hyperscale data centers with a power capacity of more than 15 MW.
Cushman & Wakefield’s 2022 Data Centre Global Market Comparison showed that Hong Kong placed second in the Asia Pacific region and sixth in the world. The report showed potential locations for investing in, owning, and operating data center facilities.
More: This year’s Asia Pacific data centre market at a glance
“Hong Kong offers a robust development pipeline, excellent networks, and all major cloud services are available,” Cushman & Wakefield managing director, Hong Kong, John Siu told DataCenter News Asia.
“The city also retains its crown as the globally lowest taxed data center jurisdiction. As a global financial and business capital with a long history of pro-business policies, it accordingly offers a robust data center sector,” he added.
The Kwai Chung industrial area is now home to a brand new data centre built by Carrianna Group, a Hong Kong property firm, reported Data Centre Dynamics. It reportedly acquired the property with a gross floor area of 23,000 sq ft and converted it into a data centre and co-working space.
SUNeVision also announced that it has won the tender for a site in Chung Hom Kok, which will be used for a second landing station for international submarine cables. By adding cable landing stations to its data centre portfolio, the company said it will strengthen its position in the industry.
The Property Report editors wrote this article. For more information, email: [email protected].
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