Amazon leases 4.51 L sq ft in Airoli for data centre | Mumbai news - Hindustan Times
close_game
close_game

Amazon leases 4.51 L sq ft in Airoli for data centre

May 19, 2023 12:03 AM IST

he lease period is for 180 months and the total lease area is 4,51,748 sq ft. The lease will commence from August 24, 2023 and the rent finalised between the two parties is ₹6.24 crore per month. The deal also includes an expansion option if Amazon wants to expand its footprint

AIROLI: Amazon Data Services Pvt Ltd has sub leased 4.51 lakh sq ft of plot in TTC industrial area in Bonsari in Airoli for a period of 15 years to develop a data centre.

HT Image
HT Image

According to the agreement between Newfound Properties and Leasing Private Limited, a K Raheja Corp group company, and Amazon Data ServicesPvt Ltd, the premises will be in a ground plus seven storey building, according to the registration documents accessed and shared by Propstack.com.

Hindustan Times - your fastest source for breaking news! Read now.

The lease period is for 180 months and the total lease area is 4,51,748 sq ft. The lease will commence from August 24, 2023 and the rent finalised between the two parties is 6.24 crore per month. The deal also includes an expansion option if Amazon wants to expand its footprint.

The data centre industry has been driving the real estate growth in key cities. The data centre industry grew from 350 MW in 2019 to 722 MW in 2022, registering a robust CAGR of 27%, according to a JLL report released recently.

“Mumbai (including Navi-Mumbai) is expected to see the highest capacity addition, requiring 4.7 million sq. ft. of real estate, followed by Chennai at 2.3 million sq. ft. and Delhi NCR at 1.0 million sq. ft. The investment in real estate and data centre infrastructure required for setting up data centres will require a capital outlay of USD 4.8 billion by 2025,” the JLL report said.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On