Mapletree, the Singapore-headquartered real estate major, reportedly, is set to enter India’s booming data centre market with a large-scale investment in Mumbai. Industry sources indicate the firm is preparing to commit between $500 million and $700 million to its debut project, which is expected to deliver nearly 400 MW of capacity, as reported by Realty+.
Beyond Mumbai, Mapletree is scouting opportunities in Hyderabad, Pune, and Bengaluru as part of a broader expansion strategy. “Having already built a solid footprint in office assets and logistics parks, moving into data centres is a natural progression,” a source familiar with the company’s plans said.
Mapletree currently operates several data centres in Singapore through its REIT portfolio. In India, the company manages roughly $2 billion worth of office and logistics assets. With ongoing projects in Mumbai and Pune nearing completion, its portfolio in the country is projected to cross 21.5 million sq. ft., according to Quek Kwang Meng, Regional CEO (India), in a recent conversation with Private Equity Real Estate.
The developer has been actively expanding its India presence in recent years. In 2023, it teamed up with Ivanhoé Cambridge, the real estate arm of Canadian pension fund CDPQ to launch a Rs. 15,000 crore platform targeting tech-focused workspaces. Last year, it also acquired a 41-acre Bengaluru land parcel for Rs. 1,900 crore.
The timing aligns with strong growth in India’s data centre sector. According to ICRA, third-party capacity is projected to almost double from 1,250 MW in FY25 to about 2,400–2,500 MW by FY28, supported by an estimated Rs. 90,000 crore in investments.
