What is the cash interest saving from refinancing that the company expects to achieve in 2021 
and also overseas like Southeast Asia and Hong Kong. I think, even in China, we think -- we believe there is more new markets were coming -- become more important, accepted our previous four key markets. So, I think we still have the plan to expand our business -- to still strengthen our business, getting more market share in the current Tier 1 market. Also, we do have the very, very solid plan to -- move to some new important market in China. But in the meanwhile, we see -- as we talked during our roadshow, Hong Kong IPO, we do see a lot of the solid demand from our installed base is in Southeast Asia expansion. So, this is a -- we are actively developing those business plan. So, that's why I think we are quite exciting at this moment to look forward to the next couple of years.
Colby Synesael -- Cowen and Company -- Analyst
William, do you think that we could see you going outside of China in 2021?
William Wei Huang -- Founder, Chairman and Chief Executive Officer
It's too early to say. We will see -- we actually develop the plan and evaluate all the demand and all the -- evaluating [Phonetic] all the business partners in Southeast Asia. So, I think maybe in the near future, maybe the beginning of the next year, we will tell you the -- tell you guys what's the -- exactly the plan is. So, I don't want to say too early. It's too early to say. But I can tell you, we actively -- to develop the plan right now.
Daniel Newman -- Chief Financial Officer
Yeah. Hi, Colby. If we just isolate out the refinancing part of what we're doing, I'll say that the cash interest saving is several hundred million RMB per annum. In terms of how it gets reflected in our accounts when we refinance, in some cases we have to write-off the amortized portion of front-end fees that we've incurred on the initial financing. So, it may not become immediately apparent in the first half of next year that we have reduced the effective interest rate. But if you give us a few quarters, I think it will become apparent later next year.
And then in addition to refinancing, there's the incremental financing, which I believe we'll be able to do on these better terms. This is significant improvement on what we've been doing in the past. It's a continuous improvement. But it's not that long ago that we were doing project financing at an all-in cost of around 7%. And as soon as we've got in execution right now or work out around 5% or even less.
Colby Synesael -- Cowen and Company -- Analyst
Got it. Thank you very much.
Operator
Your next question comes from the line of Gokul Hariharan from J.P. Morgan. Gokul, please ask your question.
Gokul Hariharan -- J.P. Morgan -- Analyst
Yeah, hi. Thanks for taking my questions. First of all, now that we are developing a bigger and bigger edge-of-town portfolio in at least the three main locations, could we talk a little bit about how is the demand looking at city center, the more older data centers versus what you're developing at edge-of-town? Are we seeing any differences in terms of demand, be it power density or other requirements?
The second is, I think 2020 seems to be the year where capex -- a lot more of the capex is being spent on inorganic. As we think about the next couple of years, how should we think about organic versus inorganic? Do you feel that inorganic is going to be a bigger portion of the capital outlay as we think about the next couple of years and some of the opportunities that you've talked about?
Daniel Newman -- Chief Financial Officer
First one is demand for the downtown data centers.
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think the direct answer is demand from the -- for the downtown, let's say, edge-of-town, right?
Daniel Newman -- Chief Financial Officer
More central.
William Wei Huang -- Founder, Chairman and Chief Executive Officer
More central, still maintain very strongly. Yeah. So, I think the -- we have -- that's why we keep acquire the edge-of-town data center, when we also -- when we developed the edge-of-town campus. So, this is -- this strategy will 
and also overseas like Southeast Asia and Hong Kong. I think, even in China, we think -- we believe there is more new markets were coming -- become more important, accepted our previous four key markets. So, I think we still have the plan to expand our business -- to still strengthen our business, getting more market share in the current Tier 1 market. Also, we do have the very, very solid plan to -- move to some new important market in China. But in the meanwhile, we see -- as we talked during our roadshow, Hong Kong IPO, we do see a lot of the solid demand from our installed base is in Southeast Asia expansion. So, this is a -- we are actively developing those business plan. So, that's why I think we are quite exciting at this moment to look forward to the next couple of years.
Colby Synesael -- Cowen and Company -- Analyst
William, do you think that we could see you going outside of China in 2021?
William Wei Huang -- Founder, Chairman and Chief Executive Officer
It's too early to say. We will see -- we actually develop the plan and evaluate all the demand and all the -- evaluating [Phonetic] all the business partners in Southeast Asia. So, I think maybe in the near future, maybe the beginning of the next year, we will tell you the -- tell you guys what's the -- exactly the plan is. So, I don't want to say too early. It's too early to say. But I can tell you, we actively -- to develop the plan right now.
Daniel Newman -- Chief Financial Officer
Yeah. Hi, Colby. If we just isolate out the refinancing part of what we're doing, I'll say that the cash interest saving is several hundred million RMB per annum. In terms of how it gets reflected in our accounts when we refinance, in some cases we have to write-off the amortized portion of front-end fees that we've incurred on the initial financing. So, it may not become immediately apparent in the first half of next year that we have reduced the effective interest rate. But if you give us a few quarters, I think it will become apparent later next year.
 And then in addition to refinancing, there's the incremental financing, which I believe we'll be able to do on these better terms. This is significant improvement on what we've been doing in the past. It's a continuous improvement. But it's not that long ago that we were doing project financing at an all-in cost of around 7%. And as soon as we've got in execution right now or work out around 5% or even less.
Colby Synesael -- Cowen and Company -- Analyst
Got it. Thank you very much.
Operator
Your next question comes from the line of Gokul Hariharan from J.P. Morgan. Gokul, please ask your question.
Gokul Hariharan -- J.P. Morgan -- Analyst
Yeah, hi. Thanks for taking my questions. First of all, now that we are developing a bigger and bigger edge-of-town portfolio in at least the three main locations, could we talk a little bit about how is the demand looking at city center, the more older data centers versus what you're developing at edge-of-town? Are we seeing any differences in terms of demand, be it power density or other requirements?
The second is, I think 2020 seems to be the year where capex -- a lot more of the capex is being spent on inorganic. As we think about the next couple of years, how should we think about organic versus inorganic? Do you feel that inorganic is going to be a bigger portion of the capital outlay as we think about the next couple of years and some of the opportunities that you've talked about?
Daniel Newman -- Chief Financial Officer
First one is demand for the downtown data centers.
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think the direct answer is demand from the -- for the downtown, let's say, edge-of-town, right?
Daniel Newman -- Chief Financial Officer
More central.
William Wei Huang -- Founder, Chairman and Chief Executive Officer
More central, still maintain very strongly. Yeah. So, I think the -- we have -- that's why we keep acquire the edge-of-town data center, when we also -- when we developed the edge-of-town campus. So, this is -- this strategy will 