Google has signed a new long-term land lease to develop a data center in Navi Mumbai, India.
First reported by India’s Economic Times, the search giant has entered into an agreement to pick up a 381,000 sq ft (35,400 sqm) data center spread in Navi Mumbai through a long-term lease of over 28 years.
To be located in Maharashtra Industrial Development Corporation's (MIDC) industrial estate, the facility will reportedly be an eight-story building, and development is set to start soon for a 2025 completion date.
Google made the deal through its affiliated company Raiden Infotech India with Amanthin Info Parks Private Limited, which in turn is leasing the land from MIDC.
Amanthin Info Parks is owned by EverYondr, a joint venture formed in 2021 between Everstone Group and data center developer Yondr Group.
According to documents accessed by CRE Matrix, a real estate data analytics firm, the company will pay a monthly rent of Rs 8.83 crore ($1.1 million).
Last year Google reportedly signed a deal with Adani to lease 464,000 square feet (43,100 sqm) at the Adani Data Centre in Noida for 10 years.
Formed in July 2021, EverYondr is a $ 1 billion joint venture between data center firm Yondr and private investment firm Everstone Group. Everstone’s real estate arm, Indospace, is India’s largest industrial real estate developer in India with over 47 million square feet under development.
The companies said at the time that facilities would be developed in Mumbai, Hyderabad, Bangalore, Chennai, and Delhi.