HWA Hong Corporation has sold OneTen Paya Lebar, an eight-storey high-tech industrial building that houses a data centre, for S$140 million.

The new owner is understood to be an entity linked to Big Data Exchange (BDx), which operates the data centre facility in the freehold building.

BDx, which was already the sole tenant in the building prior to the deal, also operates a chain of data centres in China, Hong Kong and Indonesia, according to information on its website. The company is a portfolio asset of I Squared Capital, a private equity group headquartered in Miami.