Archived Content

The following content is from an older version of this website, and may not display correctly.

Digital Realty Trust has been enjoying fast take-up of space at its recently acquired Jurong data center in Singapore. The San Francisco-based company signed leases for more than 80,000 sq ft of turn-key space at the site during the second quarter.

Digital CEO Michael Foust said annual lease rates at Jurong averaged about US$210 per 1 sq ft, second only to the rates the company charged at its European data centers during the quarter. "We are particularly pleased with the pace of activity at our new Jurong data center facility in Singapore," he said.

The report comes about nine months after Digital announced an agreement to buy the newly built seven-story building from M+W Zander.

The German construction and engineering firm originally built the 30MW facility for the Japanese real estate company Japan Land. After one of Japan Land's investors pulled out, the company could not pay for the data center in full and M+W became its owner, later selling it to Digital for S$170m (about US$139m).

In late June, after it declared itself insolvent, Japan Land was delisted from the Singapore Stock Exchange.

Singapore was not the only market that made the second quarter a sweet one for Digital. Faust said that during the three months that ended on 30 June, the company showed its strongest performance since the third quarter of 2008.

Digital signed leases for about 290,000 sq ft of space, totaling about US$42.9m in revenue. More than 205,000 sq ft of that was turn-key data center space, leased at an average of about $193 per 1 sq ft.

More than 116,000 sq ft of turn-key space was leased in US and 9,000 sq ft was leased in Europe. Average annual lease rate in Europe was higher than it was in US, however: $176 per 1 sq ft in US versus $270 per 1 sq ft in Europe.