Build-to-suit acquisition data centre platform Global Technical Realty (GTR) has launched a new 10.5MW data centre project in Petah Tikva, has more companies expanding their footprint in Israel amid the country’s growing tech scene.
The location of the campus has a connectivity ecosystem currently made up of seven cloud service providers, the Israeli-Internet Exchange (IIX) and multiple carriers.
In addition, Petah Tikva has developed into a base for many high-tech multinationals and communications companies, the company said.
The data centre is designed for hyperscale specifications, comprising of 4,800 square meters across two floors, with each floor offering 8MW and 2.5MW of IT capacity respectively.
GTR will be designing the facility with Mercury. The project will be built to a N+1 Tier III Infrastructure rating, offering a power usage effectiveness (PUE) with under 1.17 PUE at full load. The facility will be delivered in two phases and is expected to be fully operational by Q2 2023.
The project marks GTR’s second investment in EMEA and first investment in Israel. KKR has made three investments in Israeli tech companies, most recently leading an US$80 million funding round into digital content platform Artlist in 2020.
Franek Sodzawiczny, Founder and CEO at GTR, said: “I am excited to announce the launch of our second data centre in one of the fastest growing global tech hubs, shortly after the launch of our first project in July.
“The dynamic, rapidly evolving data centre sector is experiencing an unprecedented level of global investment activity. As a well-capitalized agile platform with a clear strategy and experienced team, we are able to move quickly when we identify opportunities in our priority markets.”
Andrew Peisch, Director at KKR, added: “Israel is an entrepreneurial hub for high-tech innovation and an important market for our data center strategy in EMEA. We are pleased to make this investment in a high-quality project to help accelerate the digital transformation that is underway in the region.”
GTR was launched last year by global investment firm KKR and Franek Sodzawiczny, a serial entrepreneur in the data centre sector, with a $1 billion development goal.