Advertisement

Updated January 31st, 2024 at 16:00 IST

Meta rents Spanish real estate company Merlin's data centres

In November last year, Merlin informed that it had invested 246 million euros ($266.42 million) on data centres.

Business Desk
Meta rents Spanish real estate company Merlin's data centres
Meta rents Spanish real estate company Merlin's data centres | Image:Merlin
Advertisement

Meta Data Centres: The parent organisation of Facebook, Meta Platforms, has rented Spanish real estate firm Merlin Properties' data centres, newspaper Cinco Dias reported on Wednesday, citing unidentified sources in the technology sector.

Merlin mainly owns and rents offices, shopping malls and logistics centres, but last year the real estate player started a new data centres business, following the big artificial intelligence (AI) push in data warehousing.

Advertisement

In November last year, the company informed that it had invested 246 million euros ($266.42 million) on data centres and was planning a further capital expenditure of 146 million euros between last year's fourth quarter and 2024.

Spain is a good location for data centres thanks to the underwater cable connecting Europe with the other continents.

Advertisement

Additionally, clients demand green energy sources to power the centres and dozens of energy projects are currently in development in the country.

(With Reuter Inputs)

Advertisement

Published January 31st, 2024 at 16:00 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo