ASIA PACIFIC DATA CENTRE H1 2025 UPDATE

HKG GREATER CHINA

H1 25

IT LOAD EVOLUTION

CONTACTS

1,400

JOHN SIU Managing Director, Hong Kong john.siu@cushwake.com

1,200

490

1,000

507

110

ROSANNA TANG Head of Research, Hong Kong rosanna.tang@cushwake.com THOMAS CHAN Associate Director, Research, Hong Kong thomas.chan@cushwake.com

800

215

318

208

161

600

MW

134

400

605

581

581

417

200

0

2022

2023

2024

1H 2025

Operational

U/C Planned

SIGNIFICANT RECENT SALES

SITE / PROPERTY

SIZE

SALE DATE

SALE PRICE (US$)

BUYER

SELLER

iTech Tower 3.1

89,500 sq ft

Q2 2025

$192M

Bain Capital

Grand Ming Group

iTech Tower 3.2

95,500 sq ft

Q2 2025

$83M*

Bain Capital

Grand Ming Group

*The balance of the consideration will be based on the remaining construction costs to compete Tower 3.2, plus a development management fee on such costs, which is yet to be determined.

CUSHMAN & WAKEFIELD | ASIA PACIFIC DATA CENTRE MARKET OVERVIEW