Mindspace REIT is to lease 630,000 sq ft (58,528 sq m) to an unnamed data center operator in northeast Mumbai.
The Indian Real Estate Investment Trust (REIT), is sub-leasing the space at its Airoli West business park in Mumbai to a ‘leading data center operator’ through its Gigaplex Estate special purpose vehicle.
According to a memorandum of understanding (MoU) between Mindspace-owned Gigaplex Estate and K Raheja Corp (KRC), Gigaplex will retain 7.4 acres of land originally meant for KRC which will instead be repurposed for development of the data center, with KRC leasing 5.4 acres for office. The identity of the data center operator has not been revealed.
Mindspace has a portfolio of business and IT parks spread across the key commercial markets of Mumbai, Hyderabad, Pune, and Chennai, and is sponsored by realty firm K Raheja Corp and Blackstone. The Airoli West site offers 4.5 million sq ft of leasable land in the northeast of Mumbai.
This week Princeton Digital Group announced plans to build a 48MW multi-story data center campus in Navi Mumbai.