Hong Kong sees notable data centre lease signed in June

It’s for a total GFA of over 120,000sq ft.

A notable data centre lease in Hong Kong was signed in June. According to a JLL report, AirTrunk, who currently operates an enbloc data centre in Tsing Yi, expanded its data centre business by committing a total GFA of 124,861 sq ft at San Miguel Industrial Building in Shatin until March 2039. 

This second data centre, HKG2, is expected to be completed in mid-2024, providing 15+MW of total capacity.

Here’s more from JLL:

Not much improvement was seen in the investment market. One notable transaction was HSBC's disposal of a basket of units at Kwong Sang Hong Centre in Kwun Tong for HKD 81 million (HKD 3,967 per sq ft, GFA). 

On 30 June 2023, The Innovation, Technology and Industry Bureau and the Cyberspace Administration of China signed the Memorandum of Understanding on Facilitating Cross-boundary Data Flow Within the Guangdong-Hong Kong-Macao Greater Bay Area in the hope of fostering the convenient and orderly flow of cross-boundary data from the Mainland to Hong Kong.