China Unicom plans to invest around HK$3 billion (US$387 million; US$1=HK$7.7508) to build an Internet data center in Hong Kong—the operator's first and largest data center project outside Mainland China, reported China Times on June 19. The site, which spans 41,000 square meters, will house over 3,000 server racks after it is completed in the first half of 2016. The new facility will serve as the operator's global network operation center with an undersea cable landing station, cloud computing service platform, and Internet data center. China Unicom expects to see the strongest growth in cloud storage demand in Asia Pacific between 2009 and 2018, with CAGR (Compound Average Growth Rate) of 29%.