Home/ Companies / News/  Google takes 4.64 lakh sq ft space on lease at Adani data centre in Noida

Adani Enterprise has leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google, according to CRE Matrix.

It has been leased for 11 crore monthly rent, according to documents accessed by CRE Matrix.

The documents by data analytics firm, it shows that D C Development Noida Ltd, a part of Adani Enterprises Ltd, has leased 4,64,460 square feet of space at Adani data centre in Sector-62, Noida for a period of 10 years.

The lease documents was signed last month. The rent is 235 per square feet per month. The starting annual rent is 130.89 crore and there will be 1 per cent increase in rent every year.

Email queries sent to Adani Group's flagship firm Adani Enterprises and Google remained unanswered.

In February 2021, Adani Enterprises had formed an equal joint venture with leading global data centre operator EdgeConneX to develop and operate data centres throughout India.

The JV had announced building a network of hyperscale data centres in India, starting with Chennai, Navi Mumbai, Noida, Vizag and Hyderabad.

In July 2021, Noida Authority had allotted 34,275 square metres land at Sector 62 to Adani Enterprises for setting up a data centre with an investment of around 2,400 crore.

Adani Enterprises Ltd had in last year November divested its 100 per cent stake in DC Development Noida Pvt Ltd to AdaniConnex Pvt Ltd, an equal joint venture between Adani Enterprises and EdgeConneX.

Last month, real estate consultant CBRE released a report 'Data Centres in India: Powering Up Real Estate in a Data-High Era', stating that there has been a surge in demand for data centres in India on growing digitalisation and policy impetus.

Covid pandemic has accelerated the adoption of technology and data usage has increased significantly, it said.

Moreover, CBRE noted that OTT, online gaming, increased smartphone usage, e-commerce, online schooling by edutech platforms, location-agnostic work, along with advanced technologies, including machine learning, 5G, blockchain and artificial intelligence, have led to a multi-fold jump in data transmission and need for high spec servers.

India's data centre market has witnessed an investment of USD 14 billion in the last five years, and the cumulative funding could cross USD 20 billion by 2025 as investors look for assets with stable income, according to CBRE.

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Updated: 11 Oct 2022, 11:36 PM IST
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