Despite the issues experienced by the data centre S-REITs, Theseira remains positive on data centres. He continues to believe that data centre usage is likely to grow. In addition, to ecommerce, the rise of influencers being used increasingly by corporates for marketing purposes coupled with AI and the metaverse all increase cloud usage.
Benett Theseira, Managing Director, PGIM Real Estate and head of Asia Pacific, says his private equity property funds are focused on the three Ds – digitalisation, decarbonisation and demographics.
Assets on the digitalisation front that fit into this theme are logistics assets, and data centres. “Digitalisation has two main components. One is online activity in all ways, social, business and ecommerce. We felt ecommerce would drive demand for logistics assets and we invested a lot in logistics in the last 2 years. We’ve increased our weightage in Asia, US and Europe,” Theseira says.
