AirTrunk is reportedly close to selling one of its data center assets in Johor, Malaysia, at an estimated valuation of $1 billion, with buyers including KWAP, Malaysia's national pension fund, according to a report on October 15, 2026. The transaction comes as the selloff in AI-linked equities and rising interest rates have delayed fundraising and listings across the data center sector. AirTrunk, a hyperscale data center platform majority-owned by Blackstone and CPPIB following their $16.1 billion acquisition in 2024, has postponed its own real estate investment trust (REIT) plans amid the challenging market environment.
AirTrunk Expands Johor Data Center Footprint Across Four Campuses
AirTrunk has been building aggressively in Johor, the Malaysian state bordering Singapore, with several campuses at various stages of development. The first campus, JHB1, began operating in July 2024 and targets more than 150 MW of capacity. JHB2 is currently in development and targets over 270 MW of IT load. JHB3 and JHB4 were announced on April 30, 2026, and together are expected to add more than 280 MW to AirTrunk's Johor footprint. In July 2026, AirTrunk closed a $2.3 billion green loan for JHB2, the firm's largest single-asset financing to date, with the International Finance Corporation participating with up to $175 million.
Johor Hosts 28 Data Center Sites Across 16 Operators
As of October 15, 2026, 28 data center sites were being tracked in Johor across 16 operators, with a combined planned capacity of 1,210 MW. AirTrunk ranks among the leaders in potential capacity within that group.
FAQ
What did AirTrunk announce on October 15, 2026?
AirTrunk is reportedly close to selling one of its data center assets in Johor, Malaysia, at an estimated valuation of $1 billion, with buyers including KWAP, Malaysia's national pension fund.
How much capacity do AirTrunk's Johor campuses target?
AirTrunk's JHB1 campus targets more than 150 MW of capacity, JHB2 targets over 270 MW, and JHB3 and JHB4 together are expected to add more than 280 MW, according to the company's announcements through April 30, 2026.
What financing did AirTrunk secure for its Johor expansion?
In July 2026, AirTrunk closed a $2.3 billion green loan for JHB2, its largest single-asset financing to date, with the International Finance Corporation participating with up to $175 million.
