CapitaLand India Trust (CLINT) has signed a long-term agreement with a leading global hyperscaler for one of CLINT’s data centres under development, the Trust said in a statement.

With this, CLINT is likely to pre-lease about half of its total gross power capacity under development of around 250 MW, it said.

CLINT is developing four state-of-the-art facilities in all the key data centre corridors including Mumbai, Chennai, Hyderabad and Bangalore. This strategic diversification strengthens CLINT’s portfolio in India, enabling it to deliver quality risk adjusted returns to unitholders, it said.

“CLINT’s decision to diversify into critical infrastructure such as data centres is validated by the strong interest shown by hyperscale and enterprise customers and positions us well to capitalise on India’s burgeoning digitalisation needs and drive long-term value for our unitholders, “said Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust Management.

He added, “We are on track to complete the development of our data centres in India, accelerate leasing momentum, and unlock value through divestments of partial stakes to strategic investors.”

CapitaLand Investment operates 27 data centres across the globe offering more than 800 MW in gross power.

India is a core market for CapitaLand Investment, and it sees strong growth potential across the asset classes that the trust is active in, including data centres.

“This agreement with a leading hyperscaler is a milestone and demonstrates our ability to deliver world-class data centre solutions,” said Manohar Khiatani, Senior Executive Director of CLI, who oversees the group’s data centre business.