Thai billionaire Charoen Sirivadhanabhakdi, whose family built its fortune around real estate, food and beverages, is betting on a boom in online shopping, video conferencing and food delivery to drive demand for data storage services, his newest venture.
Frasers Property (Thailand), controlled by Mr Charoen, is investing 7.3 billion baht (S$314.9 million) in building a data centre in Bangkok as it sees "robust demand" from companies and individual consumers, according to Supparat Sivapetchranat, chief executive officer of STT GDC (Thailand), a Frasers unit.
"The pandemic has accelerated digital transformation among companies and business enterprises in Thailand," Mr Supparat said in an interview on Wednesday. "This has boosted growth for data centre demand at much higher pace than we have expected."
The new data centre, which will begin operation early next year, will also benefit from the rollout of fifth-generation mobile phone services, Mr Supparat said. Thailand's government in February raised more thanUS$3 billion from auctions of 5G licences.
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