数据中心报告，亚太报告2025年9月

Nsvigst ng the Data Centre landscapein the A.ai:-Facific regic. knightfrank.com/research September2025 Foreword 2024, wtile Micrusoft investeul 55billion lkas1 year akl has alreeth.tleploved tore han s33 bilor: thisyear, rcollectiveh, Mierosof. Aws,rkxele, and Meta have oamininteclover $160 tilli<m in 2075 alkme. nIXirallel. KF is alsrc seein2.1heemerze nee of Gpt:aas pr<viclersseeking tdoule-digi1 Mw capaci1yac ross the s2len, hringl'g.greatercustomer <hverst ima leasing.Wnersatios. Assve:rerdizsnrtllness a nd ahortnerdepl>yment tineline: re nainchalle nses. du inncarise guaranreesrtucure: are enallins srme operatarsrr cn mjere in thisaare. unvay re wiruins out - thourt ttisremairnts a siemifican che.llerse pive.nationel grid xnsiraints artlpermiline tlelars int'Tier I APACnarkets. es>ie a ell..b iciset sl(w<x inleasing In>m Mlcroxit a sl Aws:rpleallg through laroe pte-leaseasree ne nts - Apac:'s unloue clynamlc.where chlnse a*d korean custamersconpete direcrly iith II.S.heperscalera, haa kej: clemand arrn 'g.Around icw of -e lenses havealready been aigned in 2r)75.maintaln'ng upware ressure cn rentsas s.:ply re nalns diff rulr ta de ive.C:h'ese clistnners in p:rti::lar haveee de,lsylng ar mnre algnifleantseale In.lapan and Kr:iea and srehsulng to ay a re mlm tn se:'sspace prevloulyallnared ta t.xclstn11ers glven rhe 1:reased dels?cnsrs the r:perarors wll face shi'srflnall:ing :cns:ncti n. Fred Fitzalan HowardHad -f a. GrutesAlat ''he Plrar half nf Zr75 has hen markedhg slstained mnentn acrnss Asia-Par1flke. ith almoar 1sf+w nf newp'nerts anr 'red alnep. lallaryThis ighliglirs Ixotl1 r'-e acale ofdema-d and rhe amlsl:lon of nxererr:rsand Invesrors. elvering rhis alpellnelll requlre r:ver o sllin Ii callcnmmirmenits. bsringlng taral APa:calgl requlreenrs .nse re $s0hlllinn. 1 Icreer, a1loincm en dr:nct a1romarlcallg trgnslare 1'tr:cn nsriurtlol1 - sltl1 pr:srern*nrement. ge"ial tracrclava:lahlly, and I:inding custalercnmmirmelits renialniig key hrdlestl1: opera:ar imarket 15 rrs111g tnacidress. Al clemand 1: tlhs rima drverI:ellnd rhis prave n' I'vestme nr. wirhIma em erging in Ireat nns such a?.lohor, Melhnurne. and : lydleralxad.: lorsever. In cerrar- Tier 2 APAc:markers, cautinn je"siars TezardingI..i. :hr? exxort r:clicy fnlloslng tlharascissin.. of r.he r.'mall1eprer'x fnrArrlfle al ritelligelce 1if.:s'n-*-hiie t'-I3 IIfted iP1 Im [o1.rastrler.ir: ns fcor r11cl1 of rhe raginn. tl1a[oaalhillty af fhanre curhaund er the.T'rm: admnlstatiall remalns. As araslt. illvesrors and haka areadepr.ing a 111ore rlsk-svcrse aprnachrc spezulative dev:lnpinelits Inunprown mgtscrs, [aicularly givenrhc dclta in rhc altcinat:ve us: valu:rcpnsiricn. Th:5 repnrt esplntet how rlsing capltalcnmr.mena Inratse.r tsltliacelarating Al de'11and, Inrensifsygelergs oressuras, and sirifringinvest11e nr.strategies 'l1 tl1: Iapldlyevnlvlng APAt: reglon. Iven sc, th: acal or rhe ri::ref.c2ts t..e reein's rwr.l1gsignificance in che digicalinfrasuue landa2 andundcracorcs chc cha.l:ncc nfsyclronising vast xpulsiols ri:hvcking technnngs xnd cTgdcna:ds What has bccrmc clcar is t'.c xtritr=cuiremcnt for cpcracois tn d:signfacilicics orich cxnacity t'=xt cxn ls2F.:xi'sly :Jersleyecl eT citler cle.d :r A1wnrkl:x:J:, nff:tig tellants mximumnptinalicy. while chis z:dcis c:st, it ixI1ow 2. decisire factet site azlectio1.-cozaticns chat. cnribin proximity coFatent sites with sufficient pawerxllecez.tions co support leng-t2n1 Isig 'l cch is already deploying capical atunprezedented Iavels: Amazcn is ne.tryek co axezed s100 bilion in capex in2025, up from anunci $82 billicn in Contents 5Osaka 4Tokyo 6 8Mumlai 7Melbourne 9Singapore 10Seoul 12Iong Kong 11Jolor Tokyo -0.205LlecLricily Frice,Ls per kwli 0.50%InleresL RaLe 87%Inlermel Users TAKE-UP SUPPLY te Lhe [d - six moLs, Teckyo reeprdel 11.1Miw u]cagacily urarsacued. Derund continnex lo be diivenFrinarily by public elenl prpviders. This Es 2. slowlevnIron thc Jirst halt cT2034. when 2S6.6arw a: ransaclxiEul Liis i bau of reducd alaply in lh mz.rkel ralhetLhan nlued denand. Tokyu wonlinu's le bx a ligh lycns raixi :uarkel. with tolozaicn vatanuy ra.: . jusl7.0ss. Ther ar p siles 2vailabl hal, can Hetmmudalehypecale sizl yuireuens. Addiliunally, 6il.s% of thesa cunlly lde tseiun hs aacy bu [Elcasul. Tekyo's daly zenlrr markel in 205 has been elaraelrisedby rapid camgus exeunsun, malerial capit ploymeil.anl acseleraing cpzpciale rrnuwabl prceureuenLAgrepale tapaeity has pw suipz.ssd -1.Gw, mzrking a2.7%. increait un volumn reuorciedl al L'se nl o. Q2 2024.Liw: IT capatily alsu gr by 5.8% in the lirst halt' el2025,wih 67.6MW ot now prujecls teuoming uxra.liunal. NTT i:xe:nling its Iulprin. lhreugl majer 9ow pncisxt.Ares, via ils pcu Aciz. Inlraslu e, tpl ee. the linaltkoso ot a 52.4 biliur Tapan tuued dad cunlr Iiunul,Izpan DC Parlor: ILP. Ihu Iunci will iniuially invcsl inhru caupusc in hu Gnz.lu Tukyu, signaling alrongloreign privale euity cnlidenc in luual plallurns.Si