PDG to expand in Asia after US$350mn Mubadala funding

UAE state holding company Mubadala is investing US$350mn in Singapore’s Princeton Digital Group (PDG) which will enable the pan-Asian data centre operator to consolidate its position across the continent.

The investment will enable the operator to expand in China, India, Singapore, Japan and Indonesia, while also accelerating expansion plans into other Asian markets.

Khaled Abdulla Al Qubaisi, CEO, Real Estate and Infrastructure Investments at Mubadala, said: “PDG is a leading data centre infrastructure platform operating in an attractive market with strong tailwinds and catering to rising demand from the hyperscale segment and more broadly Asia’s digital economies.

"We look forward to working with PDG’s management team to capitalise on the growth opportunities and create not only sustainable, long term value creation, but also support Asia’s digital infrastructure development as a vital enabler to economic progress.”

Established in 2017, PDG has a portfolio of 20 data centres, with more than 600MW of secured capacity, spanning five countries. The company serves hyperscalers, internet and cloud companies and financial institutions with scalable and reliable internet infrastructure, as well as world-class data services to meet increasing demand across Asia.

The continent is one of the fastest growing data centre regions in the world, driven by strong market fundamentals such as a large base of internet users, the growth of digitalisation, high-levels of data usage, and a tech-savvy young population.

“Mubadala’s track record of long-term investments combined with extensive know-how in the digital infrastructure space makes it a great partner as we continue to scale our business. We are also heartened by the continued trust and confidence placed by both Warburg Pincus and Ontario Teachers’ in PDG,” said Rangu Salgame, co-founder, Chairman and CEO of PDG.