Abu Dhabi’s sovereign wealth fund Mubadala is evaluating a 500-megawatt artificial intelligence data centre project in Japan’s Akita prefecture that could require as much as JPY 1 trillion, or $6.3 billion, in total investment. Mubadala would lead the commitment, with potential participation from foreign and domestic investors. The project has not been formally announced. Across Asia Pacific, the wave of deployment announcements reflects intensifying competition to secure operational sites ahead of rising demand for computing resources.
Sydney-based AI data centre operator Firmus has secured $2 billion in funding from investors including Coatue Management, Nvidia, Blackstone vehicles, and Jane Street. The capital will support the next phase of Firmus’s Project Southgate AI Factory rollout across Australia and fund expansion into other Asia Pacific markets.
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Microsoft has opened its fourth data centre region in India, located in Hyderabad, as part of a broader $20.5 billion investment in the country’s cloud and artificial intelligence infrastructure. The new facility delivers Azure cloud services to customers across the southern region, adding distributed computing capacity to one of the company’s most active Asia Pacific markets.
By contrast, Google’s $15 billion data centre project in Visakhapatnam, Andhra Pradesh, is encountering operational headwinds. Developed in partnership with Gautam Adani’s group, the project faces legal challenges and protests centered on water supply impacts and effects on a nearby wildlife sanctuary. The state government has disputed the allegations. Google has stated it will employ advanced air cooling systems to protect local water resources. The project could generate up to 188,000 jobs once operational, though the water and environmental concerns remain unresolved.
Beyond data centre activity, retail and logistics operators are reshaping their portfolios. Charter Hall Retail REIT reported a statutory profit of A$389.4 million ($273.5 million) for the year ended 30 June 2026, with operating earnings increasing 4 percent to A$153.4 million. The REIT acquired Yeppoon Central in Queensland for A$65.3 million in July and divested three shopping centres for a combined A$210 million as it rebalances toward net lease retail assets.
Japan Logistics Fund has agreed to purchase two properties, the Narita Logistics Center and the Hyogo Tojo Logistics Center, for a combined JPY 7.4 billion, or $46.7 million. The Narita property, positioned near Narita International Airport in Chiba, is fully leased to Kuehne & Nagel. The Hyogo Tojo asset in Kato City is fully occupied by two undisclosed tenants. Both acquisitions were made at discounts to appraised value: the Narita property at 8.4 percent and the Hyogo Tojo asset at 6.4 percent.
South Korea’s IGIS Asset Management is redeveloping the former Lotte Department Store in Bundang, south of Seoul, into Timewalk Bundang, an eight-storey mixed-use complex. Line Plus, the operator of the Line messaging platform, has committed to leasing the entire office portion spanning floors four through eight under IGIS’s mega floor office concept. The 77,720 square metre project is scheduled for completion in October 2028.
Singapore’s Far East Orchard posted first-half revenue of S$248.5 million ($193.7 million), more than double the prior-year level, driven by the consolidation of UK student accommodation manager Homes for Students. Profit after tax declined to S$11.6 million from S$18 million a year earlier, as the prior period benefited from a one-off S$9.1 million gain on a joint venture stake acquisition. Net asset value per share rose to S$2.88. Whether the Homes for Students consolidation continues to lift revenue through the second half will be the cleaner test of Far East Orchard’s underlying trajectory.