Amazon.com Inc. has received approval to acquire a small piece of land in New Zealand as part of its ambitious Project Kuiper, which aims to deliver internet from space.
TakeAway Points:
- Amazon’s Project Kuiper has been approved to build telecommunications equipment on a 500-square-meter site in New Zealand with plans to launch satellites by the end of 2024.
- Amazon secured over 240,000 square feet at Two Galleria Tower in North Dallas by renewing its lease, adding 600 corporate and tech jobs, and securing the space through 2030.
- Google is thinking of constructing a hyperscale data centre close to Ho Chi Minh City, Vietnam, with the intention of having it operational by 2027.
Kuiper, an Amazon project in New Zealand
The Overseas Investment Office (OIO) in Wellington granted the consent in July for a 500-square-meter site at an undisclosed location. The land will be used to install and operate telecommunications equipment essential for the project.
Project Kuiper plans to offer broadband internet through a constellation of over 3,000 satellites in low Earth orbit, providing competition to Elon Musk’s Starlink network. Amazon anticipates launching its first satellites before the end of 2024, with initial customer tests slated for 2025 and commercial service expected to follow later that year. The OIO notice stated that Amazon Kuiper New Zealand has been established to manage local operations, and the equipment installed on the site will be used to provide broadband services to customers in New Zealand.
Amazon’s renewal of lease in north Dallas
Amazon has renewed its lease at Two Galleria Tower in North Dallas, reinforcing its long-standing presence at 13455 Noel Road. The e-commerce giant signed a five-year renewal, which is a significant boost to the North Dallas office market, currently grappling with shifting workplace trends and economic uncertainties. According to the Dallas Business Journal, landlord Piedmont Office Realty Trust disclosed in its second-quarter results that it had leased “over 240,000 square feet through 2030 for an e-commerce retailer at Dallas Galleria Office Towers,” making it one of the largest office leases in Dallas this year.
Amazon previously occupied over 100,000 square feet in the 13-story building and has expanded its footprint over the years. The company initially leased over 88,000 square feet in 2014 and increased it by another 20,000 square feet in 2020. CBRE is handling the leasing at the building. Additionally, Amazon has boosted its Dallas workforce by adding 600 corporate and tech positions. This lease renewal contrasts with broader industry trends where many companies are reevaluating their office space needs due to the rise of hybrid work models.
Atlanta-based Piedmont acquired the Dallas Galleria Office Towers, including the affiliated parking lots, for about $400 million in early 2020. Amazon’s continued occupancy at Two Galleria Tower could influence Beck Ventures’ $5 billion Dallas Midtown, a planned redevelopment of the former Valley View Center mall. Beck Ventures CEO Scott Beck noted, “Companies like Amazon are recognizing the centrality that this area of Dallas is,” highlighting its strategic location at the crossroads of Interstate 635 and the Dallas North Tollway.
Google plans to construct a hyperscale data centre
Google is contemplating the construction of a “hyperscale” data center near Ho Chi Minh City in Vietnam, according to a Reuters report citing a person familiar with the matter. The investment size has not been specified, and the data center may be ready by 2027. Google declined to comment on the report.
