A-FLOW Properties I Corp. (A-FLOW) and Land Bank of the Philippines (LANDBANK) recently signed a P2.4-billion loan agreement for the establishment of a data center campus in Biñan, Laguna
The loan facility will be used for the development of the initial phase of the first A-FLOW data center campus and is the first tranche of a P10.8-billion ten-year loan facility with LANDBANK.
Currently under construction, the six-megawatt IT capacity Phase 1A of the three-building data center campus project is scheduled to be ready-for-service by the end of the year.
“This agreement marks a significant step forward in our shared commitment to develop the largest carrier-neutral data center campus in the Philippines. We are excited to build an ecosystem to attract a combination of international hyperscale customers and local enterprise customers,” A-FLOW President Amandine Wang said in an e-mailed statement on Tuesday.
A-FLOW is a joint venture between listed AyalaLand Logistics Holdings Corp. (ALLHC) and FLOW Digital Infrastructure that invests, develops, and operates digital infrastructure in the Asia-Pacific region.
“This is the first data center project financed by LANDBANK, and with this new partnership, we are confident that this project will yield significant economic benefits,” LANDBANK President and Chief Executive Officer Ma. Lynette V. Ortiz said.
Meanwhile, ALLHC Chairman Anna Ma. Margarita B. Dy said that digital transformation, cloud computing, and the surge of artificial intelligence are technologies that need “robust and scalable data center solutions.”
“Like any other infrastructure project, capital is key. So, we thank LANDBANK for the P10.8-billion loan facility to A-FLOW, a critical enabler for this project,” she said.
ALLHC is a subsidiary of listed property developer Ayala Land, Inc. (ALI).
On Tuesday, ALLHC shares rose by 0.52%, or one centavo, ending at P1.94 apiece, while ALI stocks increased by 3.26%, or P1, finishing at P31.70 per share. — Revin Mikhael D. Ochave
