Merlin Properties Data Center Expansion Delayed

Spanish real estate giant Merlin Properties faces delays in its data center expansion in Madrid, pushing back full rental income potential until 2030. The companys stock dropped by over 4% after announcing these delays, impacting 78 megawatts of the planned 246 megawatts for the second phase. The European Union also postponed its decision deadline for the AI Gigafactory initiative. Despite these setbacks, Merlin Properties reported steady financial performance, with a net asset value of €15.2 per share, up 1% for the quarter and 6% for the year. The company declared an 11% increase in interim dividend and set full-year 2025 guidance at 40 cents.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.