Hyperscalers, data centers to invest P147Bn in PH
Eleven data centers and hyperscalers are planning to roll out projects worth P147 billion (US$2.8 billion) in the Philippines, according to the Department of Trade and Industry (DTI).
During a webinar, DTI Secretary and Board of Investments (BOI) chairman Ramon Lopez disclosed that of these companies, five are US-based and are working on data center projects with a capacity of 150 to 180 megawatts (MW) or an estimated project cost of over $2 billion.
This benefits the department as it positions the country as the ‘next strategic hub in Asia’ for hyperscalers and data centers.
Lopez said that the country is an ideal hyperscaler setting, as well as for telco infrastructure and services, given its digital landscape.
The Philippines remains to be on top in terms of social media and internet usage worldwide.
The DTI official added that “there is also a growing interest in data center operations in the Philippines.”
In data released by the DTI, the local data center market — which has 94MW capacity — has “tremendous potential… to host the growing cloud services demand.”
Additionally, domestic enterprise spending on cloud services is expected to increase to an estimated $2.6 billion in 2024 from $1.8 billion in 2020.
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