Singapore’s Princeton Digital Group has lined up roughly $1.3B in green financing for the next phase of its JH1 campus in Johor, Malaysia. The site is planned for 200MW at Sedenak Tech Park, adding capacity to a region that has become the default overflow valve for Singapore’s land constraints.
Six lenders underwrote the package: Affin Bank, HSBC, Maybank, OCBC, Standard Chartered and UOB. The campus had earlier drawn backing from three banks in April 2024, before the facility widened to four in October 2025 and grew again now.
JH1 carries Green Building Index Gold for design and LEED Gold for operations. It previously tapped green debt, including a $280M loan.
The financing feeds a plan PDG announced in March 2026 to raise up to $5B in debt, aimed at delivering contracted data center capacity across Asia Pacific. For a developer, borrowing against signed leases is the practical alternative to equity in a market where construction timelines run years behind demand.
Johor has absorbed a wave of AI-driven capacity as operators push compute closer to Singapore without paying its land and power premiums. The risk for founders building on this infrastructure is timing. Brokers keep quoting power and racks that do not exist yet, and financing announcements measure intent as much as deliverable supply.
What the financing confirms is appetite. Lenders are willing to underwrite a decade of Asian data center construction, even as Malaysian power grids and water supplies face questions about how much more load they can carry.
