The deal comes less than two weeks after the asset manager said it plans to more than double its data centre funds under management from S$9 billion ($6.84 billion) currently to S$19 billion in the near term to tap into the AI frenzy. Mitsui Fudosan will develop the core and shell of the data centre, while Keppel’s private fund will undertake the fit-out works, the Singaporean company said. Keppel said it would be the facility manager when the data centre is ready in 2027, adding to its recurring income.