Property developer Rustomjee plans to build data centers in Mumbai to ride the artificial intelligence (AI) boom. It will make its foray with data centres which will be developed across five million sq. ft. of land in Thane.

Rustomjee, the brand of Keystone Realtors, plans to rope in a strategic or financial partner for the project. It has a residential township in Thane in a partnership which is 49 percent-owned by Singapore’s Keppel Land.

Thane is 'strategically located, and boasts fiber connectivity and availability of power. India’s data centre capacity has nearly doubled since 2019, and further, Mumbai alone is expected to add 40 percent in new capacity in the next five years. Real estate investment trusts (REITs) and companies which have data centes benefit as these provide key infrastructure for widespread AI adoption.

 The developer is also playing up to the demand for second homes, with the launch of its villa township in Kasara, located about 100 km from Mumbai.