Equinix's third data center in Singapore, dubbed SG3, will begin operations in Q3 of 2014. Proposed investment for Phase 1, which will provide 1,000 cabinets, is estimated at $50 million to $55 million.
The new facility, targeted at cloud service providers, financial services institutions and digital content distributors, will feature 385,000 square feet of gross floor area and 5,000 cabinets over multiple phases.
SG3 will be located close to SG1 at one-north in Western Singapore, Equinix's first data center in the country. The two facilities will be interconnected via dedicated fiber network, enabling expansion opportunities for existing customers in SG1. Equinix's second data center in the country, SG2, is located some 13km from SG1.
Key features of the upcoming SG3 include compliance with financial services industry guidelines introduced by the Monetary Authority of Singapore (MAS) in July 2012, and a solar power system.
Speaking at the facility’s groundbreaking ceremony today, deputy chief executive for the Infocomm Development Authority of Singapore (IDA) Leong Keng Thai cited figures from Gartner which said enterprise spending on public cloud services is expected to hit $207 billion by 2016, more than double the amount for 2012.
Leong added Singapore's next generation national broadband network will be able to support an exponential increase in cloud usage, and the corresponding need for ultra-fast connectivity and enhanced network capabilities.
Managing director for South Asia at Equinix Asia Pacific Clement Goh told reporters on the sidelines of the SG3 groundbreaking ceremony that the new facility will come equipped with higher power density compared to Equinix's two other data centers in Singapore, in order to support an anticipated increase in demand for cloud computing.