Savills India Facilitates Land Acquisition For Web Werks
Savills India has facilitated a land transaction deal for data centre provider Web Werks, which recently received a $150 million funding from US-based Iron Mountain, in Navi Mumbai.
Located at Thane-Belapur Road, Web Werks has bought close to an acre of land to build a 12.5 megawatts (MW) data centre with an estimated investment of Rs 400 crore. The acquisition came close on the heels of Web Werks entering into a joint venture partnership with Iron Mountain, a storage and information management services company. As part of the agreement, the Boston-headquartered firm expects to invest $150 million in the next two years.
Savills India has facilitated several key property and land transactions amid the ongoing pandemic. Given the rising demand for data centres in India, the company recently established its Data Centre services business and expects to facilitate more such deals in the segment. Savills estimates that the demand for data centre space requirement in India will increase by around 15-18 million sq. ft across the major cities in the next 2-3 years. NASSCOM has projected a cumulative investment of $28 billion in the Indian Data Centre market over 2019-2025. Increase investment activity is expected from private players.