Amazon Data Services Hong Kong Limited acquires two data center properties from Grand Ming Group subsidiaries

Type: Acquisition · Technology: Data Center · Country: Hong Kong · Value: HKD 2.18B · Announced: 2026-09-29

Amazon Data Services Hong Kong Limited agreed to purchase two adjacent data center properties, iTech Tower 3.1 and iTech Tower 3.2, from Grand Ming Group subsidiaries Regal Development Limited and Golden Ford Limited for a minimum gross consideration of HK$2.18 billion and up to HK$2.445 billion including further payments. The properties are located at 3 On Kui Street and 8 On Chuen Street in Fanling, New Territories, with iTech Tower 3.1 delivered in December 2025 and already leased to Amazon while fit-out works continue, and construction of iTech Tower 3.2 still ongoing. The combined iTech Tower 3 project is a nine-story development acquired after Grand Ming bought the land in 2022 and will offer about 185,000 sq ft (17,185 sqm) and capacity for roughly 1,000 racks. Grand Ming said the sale will cease its rental income under the existing lease for iTech Tower 3.1 upon closing and is part of a deleveraging package to reduce its sizeable debt liabilities. The transactions are set to close in February 2027, and additional payments of up to HK$265.8 million will be determined based on the final scope of fit-out and construction works.

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