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Brookfield buys 30 acre land in Navi Mumbai to build data centre

Thursday, 12 Aug 2021
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Canada's Brookfield has bought 30 acre land parcel in Navi Mumbai, Maharashtra, for Rs 600 crore from K Raheja Corp to build a data centre on the plot.

K Raheja Corp, which bought the land parcel in the Ghansoli area of Navi Mumbai from the US chemicals company Cabot Corporation in 2015 for Rs 210 crore, will be making three times the returns from the sale of the land parcel to Brookfield.

Brookfield Infrastructure, a part of Brookfield, recently formed a joint venture with 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 will expand Brookfield Infrastructure’s global data infrastructure portfolio, which includes USD 23 billion in assets across data transmission, distribution and storage. It has 1,39,000 operational telecom wireless towers in the country and intends to expand to 1,75,000 in near term.

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