2025年下半年亚太数据中心市场更新报告

•ASIA PACIFIC DATA CENTRE MARKETS MATURITY INDEX:30 markets covered •PRIMARY MARKET OVERVIEWS:Tokyo, Singapore, Sydney,Mumbai, Hong Kong, China, Johor, Seoul, Jakarta, Bangkok •SECONDARY MARKET SPOTLIGHTS:Delhi, Taipei, Auckland,Manila, Ho Chi Minh City, Perth SERVICING THE ENTIRE DATA CENTREREAL ESTATE LIFE CYCLE OurAsia Pacific Data Centre Group (DCG)helps our clients navigate theirdata centre strategies across the entire real estate cycle. We have theexperience to offer both the practical services capabilities to provideoptimal, end-to-end commercial real estate solutions and the problem- Client types we work with: Cloud Service Providers (CSPs)HyperscalersColocation providersEnterprise usersSector investors TOM GIBSON CUSHMAN & WAKEFIELD | ASIA PACIFIC DATA CENTRE MARKET OVERVIEW H2 2025 UPDATE Asia Pacific’sdevelopment pipeline expanded by2,751MW in H2 2025, reaching19,371MW–3,677MWunder construction and15,694MWin planning. Operational capacity rose to13,763MW. ASIA PACIFIC DATA CENTRE MARKET OVERVIEW Asia Pacific continued its sharp growth, adding about 1,557MW of capacity to its operational stock during2025. The development pipeline also increased by 5,033MW during the same period. Despite the sharpincrease in operational stock, the vacancy declined from 12.4% in H2 2024 to 10.9% in H2 2025 reflecting Chinese Mainlandretained its position as the largest market in H2 2025, accounting for39% (4.6GW)of total operational capacity. In H2 2025, AI and cloud investment remained central themes across Asia Pacific, but the narrativeincreasingly shifted from early-stage ambition toward large-scale execution and capital consolidation.Hyperscale and AI-led developments progressed from planning into construction, while operatorssharpened their focus on power availability, sustainability, and high-density design to support next- With285MWof newoperational capacity added,Indiareached1.5 GWand hasovertakenJapanto become Capital markets activity across Asia Pacific remained resilient in H2 2025, supported by sustainedinstitutional interest in digital infrastructure despite a more selective investment environment. Whilecapital raising through debt, equity, and REIT structures continued, funding strategies became moredisciplined, with investors prioritising scale, balance-sheet strength, and clear AI-driven demand visibility.M&A activity remained active but increasingly concentrated around platform consolidation and strategic While rollout activity among some hyperscalers was more measured in early 2025, expansion momentumstrengthened from mid-year, with cloud service providers advancing new regions, zones and AI-focusedcapacity across Asia Pacific, reinforcing the region’s role as a critical hub for next-generation digital Johoradded337MWof newoperational capacity in H22025 – the highest recordedamong all markets - and is ontrack to surpass the1GWthreshold by the end of2026. Our H2 2025 Asia Pacific Data Centre Update covers key nuances of nine prominent primary city markets– Tokyo, Singapore, Sydney, Mumbai, Hong Kong, China, Johor, Seoul, Jakarta, and Bangkok, whilst alsoproviding an overview of six city secondary markets of Delhi, Taipei, Auckland, Manila, Ho Chi Minh City,and Perth in order of the size of their current operational capacities. Also included in this report is our AsiaPacific Data Centre Market Maturity Index (through refined methodology complemented with additional data With current pipeline and pace,Australia, IndiaandJapanis expected to become2GWmarkets, withChinese mainlandreaching5GWby end of 2028. For quarterly updates on Asia Pacific data centre key indicators ata country level and our track record in these markets, view ourcapabilities brochure. ASIA PACIFIC MATURITY INDEX Our Asia Pacific Data Centre Maturity Index tracks 30 data centre markets across Asia Pacific to compare their currentmaturity status as well as their potential evolution over the next decade. Johor has closed the gap and surpassed Tokyo and Beijing to become thelargest market in the region in terms of scale and growth prospects. Thisshift has been driven by Johor’s rapid development pipeline, which hasoutpaced peer markets and significantly expanded both its operational fifteen parameters, visually represented in the accompanying graph. Itincorporates data on overall stock, including operational, planned, andunder-construction data centres. The methodology remains consistent capacity and future supply outlook. Taken together, the Powerhouse markets account for 55% of Asia Pacific’soperational capacity and 49% of the development pipeline. Reflecting theirmaturity and position as preferred data centre hubs, these markets Each primary parameter consists of five secondary parameters,amounting to a total of fifteen factors used to assess market maturity.Data points for each market are compiled into a parameter matrix andweighted to determine an overall growth score, where higher scores ESTABLIS