1 Oroya Drive

PGIM, through its Global Data Center Fund, has acquired a 20.7-hectare site located at 1 Oroya Drive in Truganina, Melbourne, Australia. The investment firm plans to develop a data center with an initial investment of AU$1.2 billion (approximately $850 million USD). This development is part of PGIM's strategy to invest in digital infrastructure projects globally. The site acquisition is a significant step in addressing the strong demand for digital infrastructure in the Melbourne region, driven by hyperscalers looking to expand their capacity. Specific details regarding the data center's planned capacity and construction timelines have not yet been disclosed. PGIM's Global Data Center Fund, active since 2023, aims to capitalize on the growing need for data center facilities worldwide.