GLP, a Singapore-based global investor in logistics real estate, digital infrastructure, and renewable energy, has formed a strategic partnership with Zhejiang government-affiliated entities, which will invest a total of 2.5 billion yuan ( US$349 million ) into the company’s data centre business in China.

The partnership involves Quzhou Industrial Holding Group, a state-owned enterprise based in Zhejiang Province, which will become a strategic shareholder in GLP's China data centre business.

The transaction builds on the strategic alignment reached in April between Zhejiang governor Liu Jie and GLP co-founder and chief executive officer Ming Z. Mei to deepen collaboration on industries of the future. This marks the first milestone in a comprehensive partnership that both parties are jointly developing.

The 2.5-billion-yuan investment will enable GLP to scale data centre operations across the country. Established in 2018 to develop and operate data centre facilities across China, the company has a portfolio that includes 20 data centres with 1.4 gigawatts of secured IT capacity across various stages of development and operation, providing essential infrastructure for cloud computing, artificial intelligence, and digital services.

Digital and AI hub

Zhejiang, home to major Chinese technology companies, has established itself as a leading hub for digital economy and AI development. The provincial government has released a comprehensive AI development strategy targeting over 1.2 trillion yuan in core AI industry revenue by 2030, aligned with the national "AI Plus" initiative to enhance large language model applications across sectors.

The province has developed a strong ecosystem for computing power, robotics and AI industries, including prominent enterprise clusters such as the so-called Hangzhou Six Dragons, featuring companies like Unitree Robotics and DeepSeek.

These developments in robotics, large language models, and multimodal applications create significant opportunities for GLP’s new-economy-focused investment and business-building strategy, the company says.

As AI adoption accelerates and enterprises require advanced computing capabilities, data centre capacity has become critical to supporting economic growth and innovation.

GLP's China data centre business offers build-to-suit, turnkey and powered shell solutions for both hyperscalers and enterprise customers. It employs innovative and sustainable solutions such as flexible cooling, renewable energy, and smart operation systems to enhance energy efficiency and reduce carbon impact of its assets.

The company reached financial close for its inaugural digital infrastructure fund in March 2025, raising 2.6 billion yuan.