Data centre sales surge in Australia, and other updates

For PropertyGuru’s real estate news roundup, investor interest in data centres in Australia has surged in 2024, with the ever-rising demand for digital infrastructure driving record investment activity. In other reports, Dubai real estate investments perform better than those in London and New York. Lastly, a multi-million socialised housing building will benefit 200 families from the city of Lapu-Lapu in Cebu, Philippines.

Data centre sales soar to new heights in Australia

Investor interest in data centres in Australia has surged in 2024, with the ever-rising demand for digital infrastructure driving record investment activity, according to realcommercial.com.au.

Both the number and dollar value invested into existing and upcoming data centres have already surpassed previous highs, with several billion-dollar-plus transactions occurring this year.

The largest investment made into the sector was Blackstone’s acquisition of Asia Pacific data centre platform Airtrunk, which operates four hyperscale data centres across Sydney and Melbourne. At AUD23.5 billion, it was the largest data centre transaction seen globally.

Like other utilities, data centres are now considered critical infrastructure. Cloud computing, data generation and storage, online commerce, and streaming services have amplified the need for more data storage and processing facilities.

This has led to the rise of hyperscale data centres, facilities designed to provide significant processing power which typically occupy over 10,000 square metres.

The real estate market in Dubai outperforms that of London and New York with superior investment yields of 7 percent and double-digit price increases

Due to price increases, investor-friendly regulations, and a future-proof market that attracts both homebuyers and speculators, Dubai real estate investments perform better than those in London and New York.

PropertyNews.ae reports that Dubai offers amazing value compared to New York and London, with an average transaction price of only USD438 per square foot.

Even with its reputation for luxury and top-notch facilities, a wider range of consumers can still enter Dubai’s real estate market. At a fraction of the price of their international counterparts, investors can enter a market that provides opulent lifestyles and cutting-edge advancements.

Out of the three cities, Dubai offers the greatest gross investment rates, at 7 percent. This is roughly quadruple London’s meagre 2.4 percent yield and nearly double New York’s 4.2 percent yield.

Dubai’s real estate market offers an unmatched opportunity for investors looking for both steady rental income and capital growth.

Dubai’s inflation-adjusted real estate price growth has risen 16.5 percent year-over-year, indicating a robust and active market driven by strong demand and limited supply in desirable areas.

PHP230 million socialised 4PH housing project to rise in Lapu-Lapu City in PH

A PHP230-million socialised housing building will benefit 200 families from this city, the mayor said on Tuesday.

Mayor Junard Ahong Chan said each unit in the five-story housing project will measure 24 square meters.

“The funds are already available and the property has already been donated. So we can implement the project right away,” Chan told the Philippine News Agency, adding that the project aligns with President Ferdinand R. Marcos Jr.’s Pambansang Pabahay Para sa Pilipino (4PH) program.

The Property Report editors wrote this article. For more information, email: [email protected].