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Cushman & Wakefield successfully completes sales of data center developable site in Jukjeon-dong

Hena Park • 16/11/2020
On October 26th, Cushman & Wakefield announced they had successfully completed advising the disposition of the data center site in Jukjeon-Dong. As a first project with the disposition of a data center developable site among advisory firms in Korea which secured electricity power, it has drawn keen attention from a number of investors and successfully exceeded the original target price.
 
During the step of contacting the seller of the site, Cushman & Wakefield proposed a site the seller owned can be sold as a data center developable site if the seller secures electricity power, and in that case, we can realize and maximize profit. Since then, the seller has secured an official letter from the Korea Electric Power Corporation, and Cushman & Wakefield have begun marketing of the site as data center developable land. During Marketing, Cushman & Wakefield empathized the following: 1) possibility of development of a hyper scale data center 2) advantages from location, 3) secured electricity power, and in fact, Cushman & Wakefield may garner significant attention from a number of investors.

While investors focus on the site in terms of electricity having been secured, which is a key element toward data center development, a high level of demand for data center-related industries such as an increase in 5G data and OTT (over the top service), and it was the first cast of selling a data center development site equipped with secured electricity. 

"Thanks to the clients who trusted our investment advisory capabilities and carried out the business, we seem to be able to satisfy all of them," said YK Son, Head of Capital Markets Group, Cushman & Wakefield Korea. He added “We expect to continue investing in IDC-related facilities in the domestic market into the future.”