SINGAPORE (EDGEPROP) - Real estate private equity firm Gaw Capital Partners has completed the acquisition of greenfield land located in Vietnam’s Ho Chi Minh City for the development of a data centre.

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In a June 14 press release, the firm says that the 65,186 sq ft site, located in Saigon Hi-Tech Park, will be used to develop a carrier-neutral Tier III data centre that will act as the seed investment of Gaw Capital’s Pan-Asia IDC (Internet Data Centre) platform. The data centre is expected to have a total gross floor area of 195,559 sq ft and an IT capacity of 20 MW. It is targeted for completion by 2024.

Kok Chye Ong, managing director and head of IDC Platform Asia (ex-China) at Gaw Capital Partners, says Gaw Capital has its sights on becoming the industry-leading IDC investor in Vietnam.

“Through the early entry into the market, it allows the firm to be well placed to serve the unmet demand in the market, with that demand being further accelerated by a young, tech-savvy population, rapid pace of development of tech SMEs, and growing high-tech investments in the country,” he adds.