Lease Agreement

Nam Tai Property Inc. has finalized a six-year master lease agreement for its Technology Center dormitories in Shenzhen with state-owned Shenzhen Anju Leyu Development & Construction Co. Ltd. This partnership is expected to significantly de-risk the project, accelerate revenue, and ensure high occupancy due to strong demand for subsidized housing. The deal is projected to generate approximately RMB 18 million annually in stable rental income, with a government subsidy covering 70% of rental costs.

Applied Digital (APLD) secured a $5 billion, 15-year lease with a U.S. hyperscale data center operator for 200 MW capacity at its Polaris Forge 2 campus, bringing its total leased capacity to 600 MW. Despite the significant deal, APLD’s stock fell over 7%, although it’s still up nearly fourfold year-to-date. The agreement underscores the growing demand for AI infrastructure, with major cloud providers investing heavily. CEO Wes Cummins highlighted Microsoft, Meta, Oracle, Amazon, and Google as potential partners. Applied Digital’s 4 gigawatt active pipeline suggests further growth.