<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001972411</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0001526125</issuerCik>
      <issuerName>GDS Holdings Ltd</issuerName>
      <secFileNumber>001-37925</secFileNumber>
      <issuerAddress>
        <com:street1>F4/F5, BUILDING C, SUNLAND INTERNATIONAL</com:street1>
        <com:street2>NO. 999 ZHOUHAI ROAD, PUDONG,</com:street2>
        <com:city>SHANGHAI</com:city>
        <com:stateOrCountry>F4</com:stateOrCountry>
        <com:zipCode>200137</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>86-21-2029-2200</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Zhang Kejing</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
        <relationshipToIssuer>SVP</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>ORDINARY SHARES REPRESENTED BY ADS</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>GEORGESON SECURITIES CORPORATION</name>
        <address>
          <com:street1>144 FERNWOOD AVE</com:street1>
          <com:city>EDISON</com:city>
          <com:stateOrCountry>NJ</com:stateOrCountry>
          <com:zipCode>08837</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>5000</noOfUnitsSold>
      <aggregateMarketValue>55950.00</aggregateMarketValue>
      <noOfUnitsOutstanding>1456842655</noOfUnitsOutstanding>
      <approxSaleDate>06/07/2023</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>ORDINARY SHARES REPRESENTED AS ADS</securitiesClassTitle>
      <acquiredDate>08/01/2018</acquiredDate>
      <natureOfAcquisitionTransaction>VESTED SHARES UNDER GDS INCENTIVE PLAN</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>GDS HOLDINGS LIMITED</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>5000</amountOfSecuritiesAcquired>
      <paymentDate>06/07/2023</paymentDate>
      <natureOfPayment>EQUITY COMPENSATION</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>NUMBER OF SHARES OR OTHER UNITS TO BE SOLD FOR 3 C IS REPRESENTED AS ADS. NUMBER OF SHARES OR OTHER UNITS OUTSTANDING FOR 3 E IS CLASS A ORDINARY SHARES

DATE OF PAYMENT FOR SECURITIES TO BE SOLD IS N/A
AGGREGATE MARKET VALUE IS BASED ON JUNE 6 CLOSING PRICE OF 11.19</remarks>
    <noticeSignature>
      <noticeDate>06/07/2023</noticeDate>
      <signature>CONFORMED SIGNATURE ON FILE</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
