The Philippines pushes for more sustainable data centres and for operators to look beyond the metro
By 2030, the digital economy could generate PHP5 trillion (USD89.4 billion) in economic output
According to BusinessWorld, Kelly Bird, Philippines country director for the Asian Development Bank (ADB), said the firm expects the economy to reach pre-pandemic levels by Q3 2022. A 6.5 percent growth rate is projected for 2022, bringing it back to its optimal growth rate.
To maintain economic growth above six percent over the next six years, infrastructure investments must remain above five percent of gross domestic product, and the investment framework must improve consistently to attract quality investment — domestic and foreign.
In addition, Roderick M. Danao, chairman and senior partner at Isla Lipana & Co., indicated that the country needs better physical and digital infrastructure across the country in order to create and/or accelerate economic growth.
Additionally, he noted that by 2030, the digital economy could generate PHP5 trillion (USD89.4 billion) in economic output.
In a report by Manila Bulletin, a global real estate consultancy revealed that 85 percent of data centre managers in the Asia Pacific region believe that sustainability will significantly impact their operations and decision-making, confirming that environmental, social, and governance (ESG) considerations will play an increasingly important role in the sector’s growth.
With regards to this, Charlie McNaught, director for Capital Markets at JLL Philippines, said, “The investment in Data Centers in the Philippines is expected to grow considerably in the coming years. It is critical that more emphasis is placed on environmental considerations to ensure these newly developed assets are future-proofed.”
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Meanwhile, a proper marketing strategy will be needed to attract more investment into the country’s industrial property market, reported Philstar.com. As Paul Chua, director for Capital Markets and Investment Services at Colliers Philippines, said, data centre operators can find industrial spaces outside of Metro Manila that are just as capable of catering to their requirements.
He said this as a response to most operators looking to establish a main office in Metro Manila and developing secondary and tertiary sites outside of the capital.
Data centres in the region are growing at an increasing environmental cost, but this also encourages investors and operators to adopt more sustainable operational and development practices.
The Property Report editors wrote this article. For more information, email: [email protected].
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