Brookfield Buys 30 Acre Land in Navi Mumbai to Build Data Centre

In one of the biggest land deals in the country in the last couple of years, Canada's Brookfield has bought a 30 acre land parcel in Navi Mumbai, a satellite town of Mumbai, for Rs 600 crore from K Raheja Corp. Brookfield plans to build a data centre on the plot.

BY Realty Plus
Published - Saturday, 14 Aug, 2021

Brookfield Buys 30 Acre Land in Navi Mumbai to Build Data Centre

In one of the biggest land deals in the country in the last couple of years, Canada's Brookfield has bought a 30 acre land parcel in Navi Mumbai, a satellite town of Mumbai, for Rs 600 crore from K Raheja Corp. Brookfield plans to build a data centre on the plot. K Raheja Corp, which bought the land parcel in the Ghansoli area of Navi Mumbai from US chemicals company Cabot Corporation in 2015 for Rs 210 crore, would be making three times the returns from the sale of the land parcel to Brookfield. According to real estate experts the price paid by Brookfield is in line with the market price. Brookfield Infrastructure, part of Brookfield, recently formed a joint venture with NYSE listed Digital Realty for setting up and operating data centres in the country under the brand BAM Digital Realty. The Brookfield JV is also looking to buy land parcels in the other parts of the country to set up data centres. The JV would expand Brookfield Infrastructure’s global data infrastructure portfolio, which includes $23 billion in assets across data transmission, distribution and storage. It has 139,000 operational telecom wireless towers in the country and intends to expand to 175,000 in the near term. With the growing need for digital connectivity to work, learn and play leading to a sharp rise in data usage, the demand for data centres, too, has soared. Betting on this demand, several global operators such as Yondr, Digital Realty and EdgeConneX have set up joint ventures with Indian companies or Indian arms of global companies or fund managers.