Frasers Property (Thailand) Public Co. Ltd (FPT, formerly known as TICON and ST Telemedia Global Data Centres (STT GDC) are set to begin their first hyperscale data centre built to global standards under their joint venture partnership, riding on the growth of Thailand’s digital economy.
The development will have two data centre buildings and the first building is designed with close to 30,000 sqm of gross floor area. The investment for this hyperscale data centre project is worth more than 7 billion baht and construction of Phase 1 is expected to be completed in 2021.
“This collaboration will broaden FPT’s ability to offer comprehensive services from industrial buildings to data centre services to our customers,” said Sopon Racharaksa, president of FPT. “Frasers Property Thailand will bring our local expertise to ensure successful development and market entry of this state-of-the-art data centre.”
The joint venture’s first data centre in Ramkhamhaeng is located in the centre of Bangkok, which will help develop seamless connectivity and ease of access to business communities.
“We expect a strong demand from banking and financial institutions, e-commerce players, global cloud operators, MNC’s and local corporates,” Sopon said.
The digital economy is expected to bring robust growth and contribute up a quarter of Thailand’s GDP by 2027 while the total data centre market in ASEAN has been forecasted to grow from US$1.9 billion in 2017 to $5.4 billion in 2024 at a compound annual growth rate of 16.1% .
“Combining our world-class data centre development capabilities with FPT’s long-standing real estate experience in the Thai market, the joint venture’s first data centre in Ramkhamhaeng of Bangkok will be a state-of-the art development, incorporating some of the latest data centre technologies and sustainable design features to ensure optimal energy efficiency,” said Bruno Lopez, Group CEO of STT GDC.
“We are already seeing positive interest from global cloud service providers and enterprises who are looking to leverage the growth in the digital economy,” Lopez said.