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ITC Properties Group Ltd has announced that one of its subsidiaries has entered into a memorandum of understanding (MoU) with China Unicom Hong Kong to secure data centre resources as part of its expansion plans. Under the agreement, China Unicom Hong Kong will provide at least 6 megawatts (MW) of internet data centre (IDC) resources within nine months. The MoU will remain valid for 36 months, while the subsidiary aims to obtain between 8 MW and 10 MW of IDC resources for sublease. The move reflects growing demand for data centre infrastructure and related services in the region.
ITC Properties Group Ltd has announced that one of its subsidiaries has entered into a memorandum of understanding (MoU) with China Unicom Hong Kong to secure internet data centre (IDC) resources, marking a step towards strengthening its presence in the digital infrastructure segment.
The agreement was signed in the past week and will remain effective for 36 months from the date of signing. Under the terms of the MoU, China Unicom Hong Kong is expected to provide at least 6 megawatts (MW) of IDC resources within nine months.
The company stated that its subsidiary intends to secure between 8 MW and 10 MW of IDC resources for sublease. The planned arrangement indicates the subsidiary's intention to expand its capacity to serve businesses seeking data centre space and related infrastructure services.
The development comes amid rising demand for data storage, cloud computing and artificial intelligence-related infrastructure across Asia. Increasing digitalisation, higher data consumption and growing enterprise requirements have driven interest in data centre assets, prompting real estate and infrastructure companies to explore opportunities in the sector.
ITC Properties has in recent years diversified beyond traditional property activities, with data centres emerging as a key area of focus for several property developers and investment groups seeking long-term growth opportunities. The latest agreement aligns with this broader trend of integrating real estate and digital infrastructure assets.
Source Reuters
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