A Singaporean company is building what is expected to be the Philippines’ largest data center in order to better serve the country. SpaceDC has teamed up with JLL on the facility which is slated to open before the end of the year.
MNL1 will be located in Cainta just outside Metro Manila. The hyperscale data center will offer data storage and applications to businesses. The facility is expected to deliver 72 megawatt (MW) of critical power which would provide a much needed capacity increase for the country.
“With only 47 MW (megawatt) of available capacity in the country, it is a dramatically underserved market. We are excited to be a first mover in a new market where we see our customers are investing heavily in,” SpaceDC CEO Darren Hawkins told The Philippine Star.
According to the company, MNL1 will use renewable energy in order to be a green facility. SpaceDC has also launched hyperscale data centers in India and Indonesia.
Investing beyond homes and offices
The launch of the Philippines’ largest data center is another example of how some companies are looking beyond residential and commercial property investment. Growth across the industrial and logistics real estate market over the past few years has been impressive with niches, such as cold storage, among the biggest movers.
According to the Cold Chain Association of the Philippines, the country’s cold storage industry capacity will grow by 10 percent this year. With industrial and logistics real estate currently booming in the Philippines, the rapid growth of cold storage was not entirely unexpected.
“The property landscape has experienced a tremendous shift since the pandemic, yet the industrial and logistics real estate sector, including cold storage, remains to be the most stable asset globally,” Kash Salvador, Head of Investment & Capital Markets of Santos Knight Frank, said. “In the Philippines, more investors are looking to place significant capital into the industrial sector, including cold chain logistics.”
Related: The hottest real estate sector in the Philippines just might be cold storage
