CapitaLand India Trust (CLINT) has secured a five-year construction loan of Rs 1,300 crore from JP Morgan India to finance the first phase development of its data centre in Navi Mumbai. The construction work has commenced and is scheduled for completion by mid-2025.

The data centre will have a power capacity of 108 MW to service global technology firms, cloud service providers and large domestic enterprise clients. Securing this onshore loan in India would help to diversify its funding sources. Besides the data centre in Navi Mumbai, CLINT currently has three other data centres under development.

CLINT's portfolio includes nine world-class IT business parks, a logistics park, an industrial facility and four data center developments in India, with a total completed floor area of 19.2 million sq. ft. spread across Bengaluru, Chennai, Hyderabad, Pune, and Mumbai. It may also develop and acquire land or uncompleted developments to hold the properties upon completion.

Demand for data centres in India is rising is led by technology infrastructure and adoption of new technologies like 5G, artificial intelligence, cloud and Internet of Things (IoT).