Developer Stockland latest to embrace data centres

Key points

• Property developer Stockland is moving ahead with plans for seven data centre sites, which it says are far from residential areas. It already operates one data centre in Macquarie Park and formed a joint venture with EdgeConneX in March.
• Chief executive Tarun Gupta told the annual general meeting that the company is working on planning approvals and securing power before making major investments. Stockland has secured 450 megawatts of power for three sites.
• Stockland shares finished Monday down 4.4 per cent at $4.04.