Hwa Hong Corporation Limited sells Oneten Paya Lebar to BDx

The site has a gross floor area of approximately 155,503 sq ft over eight floors.

Hwa Hong Corporation Limited has sold OneTen Paya Lebar, a rare freehold city fringe data centre, Savills Singapore and Cushman & Wakefield announced.

The property is a hi-tech industrial building located at the city fringe with a total gross floor area of approximately 155,503 sq ft over eight floors and has undergone a significant asset enhancement exercise in 2021

“The transaction represents a natural culmination of our relationship with BDx and we are pleased to see the site continue to add value to its new owners.” Ong Eng Yaw, Group Managing Director of Hwa Hong Corporation Limited, said.

Meanwhile, Jeremy Lake, Managing Director, Investment Sales & Capital Markets, Savills Singapore adds that there will be a continuous accumulation of demand for data centres in Singapore. 

“Investors and operators alike compete to strengthen their position in the data infrastructure market.” Jeremy said.

The asset is set to benefit from the regeneration and transformation arising from the relocation of Paya Lebar Air Base in 2030.