Mitsubishi Corp. started Japan's first real estate fund that invests in data centers, seeking to benefit from a ¥1.36 trillion market amid rising demand after the March earthquake.
Diamond Realty Management Inc., a unit of Mitsubishi, began the ¥25.8 billion fund this month, with investment from its parent, domestic institutional investors and pension funds, the company said in a statement on its website.
The rolling blackouts introduced in Tokyo after the Fukushima No. 1 nuclear power plant was damaged March 11 highlighted the need for quake-resistant data centers that are equipped with sufficient electric power during emergencies.
The market for data centers is likely to expand 8 percent this fiscal year and may reach ¥1.9 trillion by March 2016, according to a report by Tokyo-based MIC Research Institute Ltd.